2024 Senate Bill 1017

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 a requirement for certification by the Michigan Strategic Fund, effective from 2025 to 2028.

Introduced in the Senate

Sept. 26, 2024

Introduced by Sen. Michael Webber (R-9) and two co-sponsors

Co-sponsored by Sens. Veronica Klinefelt (D-11) and Paul Wojno (D-10)

Referred to the Committee on Finance, Insurance, and Consumer Protection