2024 House Bill 5978

Corporate income tax: credits; aerospace and defense technology related research and development credit; provide for.

A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding sections 277 and 677.

AI Analysis – Experimental

The bill introduces tax credits for research and development and inventory expenses for specific Michigan businesses, with annual caps and requirements for certification, effective from 2025 to 2028.

Introduced in the House

Sept. 26, 2024

Introduced by Rep. Donavan McKinney (D-14) and two co-sponsors

Co-sponsored by Reps. Doug Wozniak (R-59) and Denise Mentzer (D-61)

Referred to the Committee on Tax Policy