Quote Originally Posted by dover627 View Post
The real issue is that even if a project is already awarded the Brownfield credits, the developer won't be able to sell them once the project is complete. The credits are used against the MBT, which is being eliminated as part of this budget, so why would anyone buy the credits? I'm all for Snyder's reforms, but he claims to be placing a priority on revitalizing the state's urban areas. This seems to be in conflict with eliminating programs like BF credits. That said, the MEDC is an utterly useless waste of taxpayer $, and the people who work there are absolute drones who are incapable of using independent thought to actually HELP someone who is looking to invest in the state. I'm glad their influence will be reduced.
The tax credits will be passed on to the new taxing system, and in nearly all cases when the entity is not a "C-Corporation," the tax credits will be used by the individual owners to capture the credit.