State Rep. Mark Huizenga on Thursday introduced legislation to create a tax credit incentive for employers that provide housing support to employees or other community members.
Huizenga’s two bills are part of a broader, bipartisan plan to increase access to affordable housing in Michigan.
“Housing costs continue to rise in Kent County and throughout the state, and this bipartisan plan will help increase access to affordable housing in a fiscally responsible way,” said Huizenga, of Walker. “Instead of an inefficient, top-down approach, employer tax credits will encourage direct, private investment in housing support by local Michigan businesses, which know their communities best.”
House Bills 4649 and 4650 were both sponsored by Huizenga with bipartisan co-sponsors. HB 4650 would create a business income tax credit for employers that contribute to a local impact housing trust fund or offer an employer-assisted housing project to help employees who make up to 120 percent of area median income to secure affordable housing near their workplace. The tax credit would be equal to 50 percent of any contributions to a trust fund and 50 percent of any costs for a housing project.
HB 4649 would authorize the Michigan State Housing Development Authority to certify the eligibility of contributions and costs by employers applying for the tax credit.
HBs 4649-4650 were referred to the Committee on Local Government and Municipal Finance with the other components of the housing plan.
State Rep. Mark Huizenga today encouraged Kent County residents to express their concerns about a proposal from the Michigan Occupational Safety and Health Administration (MIOSHA) to adopt permanent COVID-19 workplace rules.