Renaissance zones are designated areas with tax benefits for renewable energy facilities in their boundaries. Eligible entities within a renaissance zone can have their corporate income tax, state education tax, personal and real property taxes, or local income taxes abated. Entities can receive abatements on these taxes for up to 15 years. For the final 3 years, the rebate decreases by 25% increments. Up to 15 zones are designated by the Michigan State Administrative Board. Counties apply to the Michigan Strategic Fund Board and support a tax abatement resolution at the local level to earn this designation.
