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MI HB4721
Bill
Status
7/1/2025
Primary Sponsor
Gregory Alexander
Click for details
AI Summary
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Creates a tax credit for retail dealers selling biodiesel blends from January 1, 2025 through December 31, 2030, with rates of $0.02/gallon for 6-9% blends, $0.05/gallon for 10-19% blends, and $0.07/gallon for blends of 20% or more biodiesel
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Provides a $0.02 per gallon tax credit for biodiesel producers manufacturing biodiesel in Michigan during the same period
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Caps total annual credits for biodiesel production at $2,000,000 and for retail sales at $16,000,000, with pro rata distribution if claims exceed caps
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Makes the credit refundable, meaning taxpayers receive the excess amount if the credit exceeds their tax liability
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Requires enactment of a companion bill (House Bill No. H00687'25) for this act to take effect
Legislative Description
Transportation: motor fuel tax; incentives for the sale and production of biodiesel; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 679.
Corporate income tax: credits
Last Action
Bill Electronically Reproduced 07/01/2025
7/15/2025