MI SB0633

Eliminates Michigan's historic preservation tax credit by moving the expiration date from January 1, 2031 to January 1, 2026, ending the program five years early

The credit currently provides 25% of qualified rehabilitation expenditures for historic resources listed on the National Register of Historic Places, state register, or local historic districts

Annual cap of $5,000,000 in total credits remains unchanged, with allocations of at least $2,000,000 for small nonresidential resources, $2,000,000 for large nonresidential resources, and $1,000,000 for residential historic resources

Maximum credit per historic resource is $2,000,000 in a single tax year, with unused credits carrying forward for up to 10 years

Updates technical language throughout, including changing "Detroit" Consumer Price Index reference to "Detroit-Warren-Dearborn" area and modernizing statutory phrasing