House Bill 4100 Summary

• Establishes a 25% Michigan state historic preservation tax credit for qualified taxpayers who rehabilitate certified historic resources, effective for rehabilitation plans certified after December 31, 2018.

• Requires Michigan State Housing Development Authority certification that historic resources meet federal Secretary of Interior's standards for rehabilitation and qualify as individually-listed, contributing resources in historic districts, or resources in designated local units.

• Allows credits to be carried forward for 10 years if they exceed tax liability, with taxpayers having credits under $250,000 eligible to elect a 90% refund instead of carryover.

• Permits qualified taxpayers to assign credits to other parties and requires recapture of claimed credits (scaled from 100% to 0% over 5 years) if historic resources are sold or certification is revoked within 5 years.

• Limits combined credit claims under both sections to 25% of total qualified expenditures and requires taxpayers to meet minimum rehabilitation thresholds (10% of state equalized valuation or 5% of appraised value).