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MI SB0814

Bill

Official Source

Status

Engrossed

6/30/2022

Primary Sponsor

Kevin Daley

Click for details

Origin

Senate

101st Legislature

AI Summary

  • Establishes a tax credit for retail motor fuel dealers selling E15 and E85 fuel for tax years 2023-2027
  • Provides $0.05 per gallon credit for E15 fuel (gasoline blended with more than 10% but not more than 15% ethanol by volume)
  • Provides $0.085 per gallon credit for E85 fuel (ethanol-gasoline blend with more than 50% but not more than 83% ethanol by volume)
  • Allows credits to be refunded if they exceed the taxpayer's tax liability for the year
  • Permits members of flow-through entities to claim credits based on their distributive share of business income

Legislative Description

Individual income tax: credit; credit for certain motor fuel retail dealers; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 277 & 677.

Individual income tax: credit

Last Action

Referred To Committee On Tax Policy

6/30/2022

Committee Referrals

Tax Policy6/30/2022
Agriculture And Bioeconomy1/12/2022

Full Bill Text

No bill text available