MI HB4424

Creates a $1.50 per gallon tax credit for sustainable aviation fuel produced or blended in Michigan and sold for use in aircraft departing from Michigan airports, effective for tax years beginning January 1, 2025

Increases the credit by $0.02 for each additional 1% reduction in life-cycle greenhouse gas emissions above 50%, with a maximum credit of $2.00 per gallon

Requires taxpayers to obtain a certificate under the sustainable aviation fuel incentive program act and attach it to their tax return to claim the credit

Allows refund of any credit amount that exceeds the taxpayer's tax liability for the year

Contingent on enactment of HB 4425 or corresponding Senate bill establishing the sustainable aviation fuel incentive program