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MI SB0558
Bill
Status
9/18/2025
Primary Sponsor
Veronica Klinefelt
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AI Summary
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Creates an aerospace defense incentive program through the Michigan Strategic Fund to preserve, protect, and enhance military installations and support defense and aerospace-related manufacturing in the state
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Authorizes designation of up to 6 aerospace defense zones, which must be located within 10 miles of a military installation or research university in Michigan
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Establishes tax credit certification process for qualified businesses located in or relocating to aerospace defense zones, with credits available under sections 279 and 679 of the Income Tax Act of 1967
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Defines qualified businesses as those primarily engaged in defense contracting, aerospace equipment manufacturing, or aerospace/defense technology, or tier 1-3 defense/aerospace suppliers with less than $5,000,000 in annual gross revenue
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Requires the bill's companion legislation (Senate Bill No. S00385'25 or House Bill No. H00385'25) to be enacted for this act to take effect
Legislative Description
Economic development: Michigan strategic fund; aerospace and defense incentive program; create and administer. Amends title & secs. 7 & 9 of 1984 PA 270 (MCL 125.2007 & 125.2009) & adds sec. 88v.
Individual income tax: credit
Last Action
Referred To Committee On Finance, Insurance, And Consumer Protection
9/18/2025