No. Under the MBT, QuAHPs are permitted a deduction from business income and gross receipts for income and receipts generally attributable to rent-restricted residential rental units in this state owned by the QuAHP. More specifically, the deduction from business income states:

[F]or a person that is a qualified affordable housing project, deduct an amount equal to the product of that person's taxable income that is attributable to residential rental units in this state owned by the qualified affordable housing project multiplied by a fraction, the numerator of which is the number of rent restricted units in this state owned by that qualified affordable housing project and the denominator of which is the number of all residential rental units in this state owned by the qualified affordable housing project. [MCL 208.1201(7).]

Similarly, the deduction from gross receipts states:

[F]or a person that is a qualified affordable housing project, deduct an amount equal to that person's total gross receipts attributable to residential rental units in this state owned by the qualified affordable housing project multiplied by a fraction, the numerator of which is the number of rent restricted units in this state owned by the qualified affordable housing project and the denominator of which is the number of all rental units in this state owned by the qualified affordable housing project. [MCL 208.1203(6).]

There is no requirement under MCL 208.1201(7) and 208.1203(6) that the deductions are limited to QuAHPs that purchase rental units after the effective date of 168 PA 2008 or rental units purchased after that date. That is, the deductions under MCL 208.1201(7) and 208.1203(6) are available to QuAHPs for all rental units that meet the requirements set forth under MCL 208.1201 and 208.1203, subject only to extinguishment under the following provision:

If a qualified affordable housing project no longer meets the requirements of subsection (9)(b) or fails to operate those residential rental units as rent restricted units in accordance with the operation agreement and the requirements of subsection (9)(c), the taxpayer is entitled to the deductions under subsections (6) and (7) as long as the qualified affordable housing project continues to offer some of the residential rental units purchased as rent restricted units in accordance with the operation agreement. [MCL 208.1201(8). The disqualification provision for gross receipts purposes is substantially the same and found at MCL 208.1203(7).]