MI SB1343

Establishes tax credits for manufacturers of plug-in traction battery packs in Michigan for tax years 2010-2014, with credits ranging from $500-$2,000 per pack depending on kilowatt-hour capacity, totaling up to $135 million across all years.

Creates tax credits up to 75% of qualified vehicle engineering expenses for battery integration and prototyping (capped at $15 million annually and $135 million total) for tax years 2012-2013, available only to manufacturers producing at least 1,000 qualifying vehicles.

Authorizes credits equal to 50% of capital investment expenses for integrative cell manufacturing facilities (up to $25 million annually for 4 years, maximum 5 agreements) and 25% for large-scale battery production facilities (up to $25 million annually for 4 years, 1 agreement maximum).

Provides credits for advanced lithium ion battery pack manufacturing, allowing up to $26-42 million annually for 3-4 years based on capital investments of $200-250 million and creation of 300-1,000 new jobs in Michigan.

Requires taxpayers to enter agreements with the Michigan Economic Growth Authority and obtain certificates to claim credits; allows excess credits to be refunded or carried forward for up to 10 years.