MI HB4523

Establishes a tax credit equal to 25% of capital investments (capped at $15,000,000 per taxpayer annually) for qualified taxpayers constructing and operating new photovoltaic energy, systems, or technology manufacturing facilities in Michigan for tax years beginning January 1, 2009 or later.

Limits total credits across all taxpayers to $75,000,000 and prohibits the Michigan Economic Growth Authority from entering new agreements after December 31, 2011.

Requires taxpayers to create at least 500 qualified new jobs and invest $50,000,000 (with $25,000,000 prior to certification), or alternatively create 250 jobs and invest $100,000,000 (with $25,000,000 prior to certification) to qualify.

Allows credits to be claimed in equal installments over 2 years, with one exception permitting a single taxpayer to claim the full amount in the year certification is issued; excess credits are refunded if they exceed tax liability.

Permits taxpayers to assign credits to other entities and allows the authority to reduce, terminate, or recapture previously claimed credits if requirements are not maintained.