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.
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.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection