MI SB0514

Creates a tax credit of $0.005 per returnable beverage container sold for distributors who originate deposits on containers, effective for tax years beginning January 1, 2026

Applies the credit against both individual income tax (Section 279) and corporate income tax (Section 679)

Requires annual inflation adjustment starting in 2027 based on the United States Consumer Price Index for all urban consumers

Taxpayers must attach required reporting documentation under the Michigan Bottle Deposit Law to claim the credit

Credit is refundable if it exceeds the taxpayer's tax liability for the year

Contingent on enactment of Senate Bill No. 512 of the 103rd Legislature