MI HB6235

Extends Michigan business tax credits for motorsports entertainment complexes through 2016, with credits available for tax years beginning December 1, 2012 through December 31, 2016.

Allows eligible taxpayers to claim credits up to $2,100,000 annually for 2008-2010 tax years and $1,580,000 for 2011-2012 and subsequent tax years based on capital expenditures for infield renovation, grandstand upgrades, and infrastructure improvements.

Provides additional tax credits covering 50% of safety-related expenses in 2009 and 100% of such expenses from 2010 onward, including professional fees, additional police officers, and traffic management devices, with excess credits refundable.

Requires eligible taxpayers to invest at least $30,000,000 in capital expenditures before January 1, 2011 and an additional $32,000,000 between January 1, 2011 and January 1, 2016 to qualify for extended credits.

Defines eligible taxpayers as owners, lessees, or operators of motorsports entertainment complexes with at least 70,000 fixed seats, 6 scheduled event days annually, and sanctioned events comparable to NASCAR Nextel Cup races.