Law360, New York (January 10, 2012, 1:54 PM EST) -- Michigan’s brownfield replacement package was signed into law on Dec. 14, 2011, by Gov. Rick Snyder and became effective as of Jan. 1, 2012. The new program, aptly named the Community Revitalization Program (CRP), is designed to replace the brownfield and historic tax credits previously available under the Michigan Business Tax (MBT) Act.
The program was created by amendment to the Michigan Strategic Fund (MSF) Act, and the brownfields portion of the program will continue to be administered by the Michigan Economic Development Corp.
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