MI SB0855

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 and tax year.

Allows vehicle engineering credits up to 75% of qualified expenses for battery integration and launch, capped at $15,000,000 per year and $135,000,000 total, available to manufacturers producing at least 1,000 qualifying motor vehicles.

Provides capital investment credits of up to 50% for integrative cell manufacturing facilities (maximum $25,000,000 per year for 4 years) and up to 25% for battery production facilities (maximum $25,000,000 per year).

Authorizes advanced lithium ion battery pack manufacturing credits of $26,000,000-$42,000,000 per year for 3-4 years with requirements for capital investments of $200,000,000-$250,000,000 and job creation of 300-1,000 new jobs.

Allows refundable credits equal to 90% of certain historic preservation and development credits issued after December 31, 2011, with payment due within 60 days of claim; effective January 1, 2012.