MI HB4128

Creates a $1.00 per kilowatt hour tax credit for electricity produced using small modular reactors, extended power uprates, or stretch power uprates at qualified nuclear facilities and sold to unrelated parties

Limits eligibility to the first 10 years of operation after the technology is placed in service and caps the credit at the first 10,000 megawatt hours per qualified facility

Excess credits that exceed tax liability cannot be refunded but may be carried forward for up to 15 tax years

Small modular reactors must be placed in service before June 1, 2040 to qualify for the credit

Bill takes effect only if House Bills 4124, 4125, 4126, 4127, and 4129 of the 103rd Legislature are also enacted into law