MI HB4079

Removes the requirement that credit assignments be irrevocable under subsection (8) for projects with certificates of completed rehabilitation issued after December 31, 2008, allowing taxpayers to revoke assignments of historic preservation credits under certain conditions.

Permits qualified taxpayers to revoke original credit assignments if no subsequent reassignments have been made and a portion of the assigned credit remains available.

Establishes a process for revoking assignments through a form prescribed by the department, with the department issuing a revocation certificate to the qualified taxpayer.

Allows revocation of assignments at any time in the tax year the certificate of completed rehabilitation is issued, providing greater flexibility than the previous irrevocable assignment requirement.