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MI HB6118
Bill
Status
5/4/2010
Primary Sponsor
Larry DeShazor
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AI Summary
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Changes the sunset date for the research and development tax credit for qualified technology from January 1, 2016 to January 1, 2011, limiting the credit availability period.
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Allows taxpayers engaged in research and development of hybrid vehicle propulsion systems to claim a credit equal to 3.9% of employee compensation paid at qualified facilities in cities with 80,000-82,000 population located in counties with 1,000,000-1,300,000 population.
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Sets a maximum annual credit of $2,000,000 per taxpayer and makes excess credits refundable against tax liability.
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Requires taxpayers to have entered into an agreement with the Michigan Economic Growth Authority before April 1, 2007 specifying job types, work descriptions, and other public interest terms.
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Makes the bill contingent on enactment of 16 related bills (HB 5249, HB 6103-6119) as a tied-bar provision.
Legislative Description
Michigan business tax; credit; research and development credit for qualified technology; sunset. Amends secs. 450 & 450a of 2007 PA 36 (MCL 208.1450 & 208.1450a). TIE BAR WITH: HB 5249'09, HB 6103'10, HB 6104'10, HB 6105'10, HB 6106'10, HB 6107'10, HB 6108'10, HB 6109'10, HB 6110'10, HB 6111'10, HB 6112'10, HB 6113'10, HB 6114'10, HB 6115'10, HB 6116'10, HB 6117'10, HB 6119'10
Energy, alternative sources
Last Action
Printed Bill Filed 05/05/2010
5/5/2010