HB 6267 Summary

• Allows distributors who originate deposits on beverage containers to claim a tax credit against income tax liability for tax years beginning after December 31, 2020.

• Credits equal 3 cents per returnable container sold, adjusted annually starting in 2022 by the percentage increase in the U.S. Consumer Price Index.

• Credits also include the refund value per returnable container that is over-redeemed during the tax year as established under MCL 445.572.

• Requires taxpayers to attach reports from MCL 445.573a to their annual tax returns when claiming the credit, with any excess credit refunded to the taxpayer.

• Defines "beverage container," "distributer," and "returnable container" according to existing law (MCL 445.571), and allows credits to pass through to partners, members, or shareholders of partnerships, LLCs, and S-corporations.