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Read. Follow. Verify.Senate Bill 924 Creates Community Development Tax Credits and Sets $200 Million Annual Cap
Last action · April 23, 2026: REFERRED TO COMMITTEE ON ECONOMIC AND COMMUNITY DEVELOPMENTSponsors: Sam Singh and 2 others
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What This Bill Would Do
Senate Bill 924 creates new individual and corporate income tax credits administered by the Michigan Strategic Fund for s in community development projects, historic preservation, and housing. The bill caps total approved credits at $200 million annually, with specific set-asides for rural/small projects and housing creation, and is contingent on the enactment of Senate Bills 923 and 925.
Property developers, historic preservationists, and local governments gain access to multi-million dollar tax incentives for rehabilitating blighted, historic, or underutilized properties, while state tax revenue allocation is capped at $200 million per calendar year.
- Sam Singh serves in the Michigan Senate, representing the state's 28th Senate District and sponsoring legislative economic development packages. context
- The Michigan Strategic Fund is an autonomous agency operating within the Michigan Department of Labor and Economic Opportunity to promote economic development and business attraction. context
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Qualified taxpayers and developers
Taxpayers who own, lease, or purchase eligible property may apply for, claim, carry forward, or assign tax credits for eligible project investments.
Michigan Strategic Fund
The fund is responsible for reviewing applications, issuing preapproval letters, verifying project completion, and submitting an annual legislative report.
Nonprofit corporations
Nonprofit corporations meeting qualification rules may file a specialized form with the Department of Treasury to receive a direct refund payment equal to their certified credit amount.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the maximum tax credit available for a single community development project?
How are rural and housing projects prioritized under the bill?
Can taxpayers transfer or assign their tax credits to other parties?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
2 actions- Apr 23, 2026SenateCommitteeREFERRED TO COMMITTEE ON ECONOMIC AND COMMUNITY DEVELOPMENT
- Apr 23, 2026SenateIntroducedINTRODUCED BY SENATOR SAM SINGH
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Establishment of Capped Community Development Tax Credits
The bill introduces a structured framework for community development tax credits with strict annual caps, mandatory set-asides for housing and rural areas, and mandatory cross-contingency with Senate Bills 923 and 925.
Connected Entities
Sources
legislature.mi.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz45Current news / social attention level
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