MBT CREDIT FOR BATTERY TECHNOLOGY H.B. 5977 (S-2):
FLOOR SUMMARY
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House Bill 5977 (Substitute S-2 as reported)
Sponsor: Representative Tim Moore
House Committee: Energy and Technology
Senate Committee: Commerce and Tourism
CONTENT
The bill would amend the Michigan Economic Growth Authority (MEGA) Act to authorize MEGA to determine the eligibility of and issue certificates to certain taxpayers for credits allowed under Section 434 of the Michigan Business Tax (MBT) Act.
(House Bill 6611 (H-2) proposes to add Section 434 to the MBT Act to authorize MEGA to enter into agreements to provide certain tax credits for various activities related to automotive battery technology.)
MCL 207.806 Legislative Analyst: Patrick Affholter
FISCAL IMPACT
The bill would allow the Michigan Economic Development Authority to grant to eligible businesses the Michigan business tax credits for high-power motor vehicle activity in Michigan as proposed in HB 6611 (H-2). (For more information, please see the Senate Fiscal Agency analysis of that bill.)
Date Completed: 12-18-08 Fiscal Analyst: Jay Wortley
floor\hb5977 Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb5977/0708