LANSING, MI (WHTC) – MIRS News in Lansing is reporting that Michigan lawmakers are taking a hard look at the 10-year-old Commercial Rehabilitation Act that is set to expire at year’s end. The act provides a tax incentive to projects aimed at improving vacant commercial properties that are at least 15 years old, and there were 16 qualifying projects approved last year, according to state records.
Because of other business credits that have created a $9.3 billion state budget liability, some legislators are wary of renewing the CRA.
