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Ryan Eashoo
F L I N T O I D
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MICHIGAN'S COMMERCIAL REHAB TAX CREDITS AT RISK— ACT TODAY!
Michigan’s Rehabilitation Tax Credit program for commercial structures is under attack. If the Michigan State Legislature does not include commercial rehab tax credits as part of the new Michigan Business Tax, we will lose this vital economic incentive, and with it our best hope to rehabilitate hundreds of endangered historic buildings throughout the state.
Legislators in Lansing are presently debating the new Michigan Business Tax (MBT), which will replace the old Single Business Tax (SBT). Let them know that Michigan’s rehab tax credits for commercial buildings are important economic development tools that should be included in the next business tax (at this time, the Michigan Rehabilitation Tax Credit for private homeowners is unaffected and only the commercial rehab tax credit is at risk.) Discussion among members of both the House and Senate is determining the credits' fate this week--and so your immediate input is critical.
The economic benefit of these historic preservation tax credits is well documented. These historic preservation tax incentives have helped not only revitalize many of Michigan’s older Main Streets and downtown neighborhoods, but they have also helped create new jobs. For every dollar of credit issued between 2001 and 2006, $11.43 was invested in the state's economy, resulting in $1.93 BILLION in total economic impacts and the creation of more than 22,000 jobs over five years.
Because these rehab credits are issued only after expenses are incurred--the costs associated with the projects have already generated significant economic impacts and state and local tax revenue well before the credits are issued.
We urge you to call or e-mail your legislators WITHIN THE NEXT 3 DAYS and ask them to retain the rehab tax credit in the new Michigan Business Tax. Please customize your letter with stories about the benefits of the rehab tax credit in your community.
The House Tax Policy Committee members include: Representatives Bieda, Condino, Farrah, Robert B. Jones, Mayes, Meisner, Melton, Sheltrown, Warren, Young, Meltzer, Sheen, Steil, Pastor, Palmer, Wenke, and Calley. The Senate Finance Committee includes Senators Cassis, Gilbert, McManus, Jansen, Prusi, Jacobs, and Whitmer.
Please tell your legislators that you care about historic preservation, you want to see the commercial rehab tax credits continue their proven economic development work in your community, and that it should be part of Michigan’s Business Tax.
CLICK HERE TO TAKE ACTION NOW
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Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com |
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Thu Apr 12, 2007 1:44 pm |
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Ryan Eashoo
F L I N T O I D
|
MICHIGAN'S COMMERCIAL REHAB TAX CREDITS AT RISK— ACT TODAY!
Michigan’s Rehabilitation Tax Credit program for commercial structures is under attack. If the Michigan State Legislature does not include commercial rehab tax credits as part of the new Michigan Business Tax, we will lose this vital economic incentive, and with it our best hope to rehabilitate hundreds of endangered historic buildings throughout the state.
Legislators in Lansing are presently debating the new Michigan Business Tax (MBT), which will replace the old Single Business Tax (SBT). Let them know that Michigan’s rehab tax credits for commercial buildings are important economic development tools that should be included in the next business tax (at this time, the Michigan Rehabilitation Tax Credit for private homeowners is unaffected and only the commercial rehab tax credit is at risk.) Discussion among members of both the House and Senate is determining the credits' fate this week--and so your immediate input is critical.
The economic benefit of these historic preservation tax credits is well documented. These historic preservation tax incentives have helped not only revitalize many of Michigan’s older Main Streets and downtown neighborhoods, but they have also helped create new jobs. For every dollar of credit issued between 2001 and 2006, $11.43 was invested in the state's economy, resulting in $1.93 BILLION in total economic impacts and the creation of more than 22,000 jobs over five years.
Because these rehab credits are issued only after expenses are incurred--the costs associated with the projects have already generated significant economic impacts and state and local tax revenue well before the credits are issued.
We urge you to call or e-mail your legislators WITHIN THE NEXT 3 DAYS and ask them to retain the rehab tax credit in the new Michigan Business Tax. Please customize your letter with stories about the benefits of the rehab tax credit in your community.
The House Tax Policy Committee members include: Representatives Bieda, Condino, Farrah, Robert B. Jones, Mayes, Meisner, Melton, Sheltrown, Warren, Young, Meltzer, Sheen, Steil, Pastor, Palmer, Wenke, and Calley. The Senate Finance Committee includes Senators Cassis, Gilbert, McManus, Jansen, Prusi, Jacobs, and Whitmer.
Please tell your legislators that you care about historic preservation, you want to see the commercial rehab tax credits continue their proven economic development work in your community, and that it should be part of Michigan’s Business Tax.
CLICK HERE TO TAKE ACTION NOW |
_________________
Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com |
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Thu Apr 12, 2007 1:45 pm |
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