2009 House Bill 4515 ↩

Senate Roll Call 83: Passed

To expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability. See also Senate Bill 319.