MI HB5389

Creates a $5,000 tax credit for taxpayers who purchase a newly constructed qualified green residential building with platinum LEED, platinum GreenStar, emerald NGBS, living building, or Zero Energy Ready Home certification in tax years beginning January 1, 2021 or later.

Provides tax credits of up to $4,000 (30% of costs), $3,000 (30% of costs), or $2,000 (30% of costs) for renovations or additions to existing residential buildings certified at platinum, gold, or silver levels respectively by LEED, GreenStar, NGBS, or other approved green building organizations.

Requires taxpayers to obtain and attach a certificate from an approved certifying body (United States Green Building Council, Home Innovation Research Labs, GreenHome Institute, U.S. Department of Energy, or International Living Future Institute) to claim the credit.

Allows unused tax credits to be carried forward for up to 4 years to offset future tax liability, but does not permit refunds of excess credits.

Limits eligibility to residential buildings located in Michigan constructed or renovated by licensed contractors with required building permits under Michigan's construction code.