2002 House Bill 6501 ↩

Senate Roll Call 1077: Passed

To extend to the end of 2007 the sunset on brownfield redevelopment single business tax (SBT)credits, and make various revisions expanding the state’s authority to offer credits, and broadening a firm’s ability to use them. Multi-phase projects would receive credits in increments, creating a tax-incentive for completion. The bill allows the Michigan Economic Growth Authority (MEGA) to "carry forward" unused brownfield SBT credits to succeeding years. MEGA is now authorized to hand out up to 15 credits of more than $1 million, but may not "carry forward" any such credits it does not hand out.