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MI HB5292
Bill
Status
11/13/2025
Primary Sponsor
Mark Tisdel
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AI Summary
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Repeals the Michigan Business Tax Act (2007 PA 36) effective for tax years beginning after December 31, 2025
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Allows taxpayers with certificated credits (preapproval letters or agreements issued before January 1, 2012 under the former Michigan Business Tax Act) to claim remaining credits against corporate income tax liability for tax years 2026-2035
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Requires certificated credits to be claimed in equal installments over 10 years beginning with the 2026 tax year, with unused credits eligible for refund if exceeding tax liability
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Disqualifies taxpayers from claiming credits if they fail to maintain at least 95% of the full-time jobs they had in Michigan on September 30, 2025 in any given tax year
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Takes effect only if HB 5293 of the 103rd Legislature is also enacted into law
Legislative Description
Corporate income tax: credits; ability to claim certain certificated credits against corporate income tax liability; provide for, and repeal Michigan business tax act. Amends secs. 605 & 680 of 1967 PA 281 (MCL 206.605 & 206.680); adds sec. 670 & repeals 2007 PA 36 (MCL 208.1101 - 208.1519). TIE BAR WITH: HB 5293'25
Corporate income tax: credits
Last Action
Bill Electronically Reproduced 11/13/2025
12/2/2025