A bill to amend 1984 PA 270, entitled “Michigan strategic fund act,” by amending sections 29, 29a, 29b, and 29d (MCL 125.2029, 125.2029a, 125.2029b, and 125.2029d), sections 29 and 29b as added by 2008 PA 75, section 29a as amended by 2011 PA 291, and section 29d as amended by 2020 PA 199; and to repeal acts and parts of acts.
HBs 4907 and 498 authorize a total of $2.075 billion in tax credits over the next decade for film production in Michigan. Tax credit incentives start at 25% of qualified expenditures, potentially increasing to 30% under certain conditions, with additional incentives for employing Michigan residents and for productions involving minority, woman, disabled, or veteran-owned Michigan vendors. Credits are transferrable to up to 10 grantees.
Co-sponsored by Reps.
Referred to the Committee on Economic Development and Small Business
Reported without amendment
