MI SB0437

Extends the completion deadline for one specific multiphase project approved by Michigan Economic Growth Authority Resolution 2010-219 from 10 years to September 14, 2023, allowing the qualified taxpayer to claim the credit without penalty.

Permits the qualified taxpayer to claim credits for the extended multiphase project based on the schedule designated in the certificate of completion, rather than forfeiting unused credits after the original 10-year deadline.

Applies interest on claimed or assigned credits at the rate specified in section 23(2) of 1941 PA 122, calculated individually for each component of the multiphase project from the date the credit was claimed or assigned.

Takes immediate effect upon approval by the Governor on June 15, 2021.