MI HB6236

Establishes a $1,000 tax credit for qualified taxpayers who purchase a new electric vehicle during the tax year, effective for tax years beginning January 1, 2023 and later.

Allows taxpayers to claim one $1,000 credit per new electric vehicle purchased in a single tax year.

Permits unused credits exceeding a taxpayer's annual tax liability to be carried forward for up to 5 tax years or until fully used.

Defines "electric vehicle" as an all-electric vehicle with a manufacturer's suggested retail price of $80,000 or less that is not a used vehicle and is not designed primarily for off-road use.

Limits the credit to Michigan resident individuals only.