Housing

SB 633 eliminates Michigan's state historic preservation tax credit program, which previously allowed property owners to claim a 25% tax credit for qualified rehabilitation expenses on historic buildings. The bill directly affects developers and property owners who relied on this credit for restoring historic resources, removing their eligibility for tax benefits under this program. Key provisions include repealing sections of the Income Tax Act that governed the credit's application process, annual funding limits ($5 million total), and requirements for certification of historic rehabilitation projects. This change would end the state's financial incentive for historic preservation projects that currently qualify under this credit.

SB 423 ends specific programs that helped homeowners pay overdue property taxes and avoid foreclosure. It directly affects property owners with delinquent taxes who previously could use these reduced payment options. The bill modifies existing law by setting expiration dates ("sunsetting") for these programs, meaning they will no longer be available after the specified dates. This change removes temporary relief measures, requiring affected homeowners to pay full delinquent taxes or face standard foreclosure processes.