HB 4128
Corporate income tax: credits; credit for advanced small modular reactor generated power; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 678. TIE BAR WITH: HB 4127'25, HB 4129'25, HB 4125'25, HB 4126'25, HB 4124'25
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a tax credit for Michigan businesses that use advanced small modular reactors to generate electricity. The credit is calculated based on the kilowatt hours of electricity produced and sold to unrelated parties. There are limitations on the credit, including a 10-year operational period and a cap of 10,000 megawatts of electricity produced per facility. The credit can be carried forward for 15 years if it exceeds the taxpayer’s tax liability in a given year.
Sponsors
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Primary sponsor
Cosponsors
David Prestin
Douglas Wozniak
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