HB 4124
Corporate income tax: credits; credit for advanced small modular reactors research and development expenses; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 677a & 717a. TIE BAR WITH: HB 4127'25, HB 4129'25, HB 4125'25, HB 4126'25, HB 4128'25
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates tax credits for both individual taxpayers and employers in Michigan related to research and development expenses focused on advanced nuclear reactor technologies. It allows taxpayers and employers to claim a 15% credit on qualified research and development expenses, up to a maximum of $2.5 million per year. These credits are designed to encourage investment in the design, development, and improvement of advanced nuclear reactors and their technologies, ultimately aiming to increase their availability in the domestic and international markets.
Sponsors
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Primary sponsor
Cosponsors
David Prestin
Douglas Wozniak
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