MI HB6021

Creates a Michigan Community Investment Tax Credit Program administered by the Michigan Strategic Fund in cooperation with the Department of Treasury to promote donations to place-based nonprofit community organizations serving distressed areas and low-income populations.

Requires qualified nonprofits to apply for board approval of a community investment plan and allocation of tax credits, with approval decisions required within 90 days; limits total annual allocations to $25 million statewide and individual organization allocations to $50,000-$150,000 per tax year for up to 3 consecutive years.

Directs qualified organizations to issue certificates to donors of at least $500 documenting the donation amount and corresponding tax credit, with copies sent to the fund and treasury department.

Defines "place-based nonprofit community organization" as a 501(c)(3) nonprofit focused on serving economically disadvantaged neighborhoods, engaging residents and businesses in community development, maintaining constituent governance, and not being a financial institution.

Takes effect only if HB 6020 or a Senate bill identified as "____" is enacted into law.