MI HB4712

Extends deadline for multiphase brownfield redevelopment projects to 10 years from the preapproval letter date (previously 5 years for standard projects).

Allows taxpayers approved under specific Michigan Economic Growth Authority resolutions (2011-154, 2011-155, 2019-046, 2019-047) to allocate eligible investments between adjacent development areas to maximize combined credits, up to the total approved amount.

Permits taxpayers to petition for project amendments after eligible investment is made to increase maximum eligible investment and credits or reallocate investments between adjacent development areas.

Extends completion deadline up to 5 additional years beyond the standard 10-year period for projects under the specified resolutions.

Takes immediate effect as of October 29, 2021.