MI HB5541

Adds a new requirement to the corporate income tax base calculation requiring taxpayers to add back diversity, equity, and inclusion (DEI) related expenses deducted under Internal Revenue Code section 162.

Reorganizes subsection (5) to define "mineral" and "qualified taxpayer" by reference to section 31b and clarifies the definition of "oil and gas" as oil and gas subject to severance tax under 1929 PA 48.

Maintains the existing 6.0% corporate income tax rate and other adjustments to the corporate income tax base.