MI SB1369

Extends the motorsports entertainment complex tax credit under Michigan's business tax law through January 1, 2017 (previously set to expire January 1, 2013).

For tax years 2008-2010, allows eligible taxpayers a credit up to $2,100,000 for capital expenditures on infield renovation, grandstand and infrastructure upgrades, and other construction.

For tax years 2011-2012, reduces the maximum credit to $1,580,000 for the same qualifying capital expenditures.

For tax years 2013-2016, allows a new credit period with a $1,580,000 maximum for capital expenditures on infield renovation, grandstand upgrades, and other construction.

Requires eligible taxpayers to expend at least $30,000,000 by January 1, 2011, and an additional $32,000,000 (with specific milestones) by January 1, 2016, to qualify for credits under the extended period.