PLUG-IN CAR BATTERIES: MBT CREDIT

House Bill 6597

Sponsor:  Rep. Steve Bieda

Committee:  Tax Policy

Complete to 11-10-08

A SUMMARY OF HOUSE BILL 6597 AS INTRODUCED 11-6-08

House Bill 6597 would amend the Michigan Business Tax Act to provide a refundable credit to taxpayers that manufacture plug-in traction battery packs (a type of battery that could power motor vehicles).  The credit would be equal to $2,000 for each battery pack manufactured, multiplied by the "applicable credit percentage."  The credit percentage would be 100 percent for the 2010 and 2011 tax years, 75 percent for the 2012 and 2013 tax years, and 50 percent for the 2014 through 2016 tax years. 

MCL 208.1461

FISCAL IMPACT:

A fiscal analysis is in process.

                                                                                           Legislative Analyst:   Mark Wolf

                                                                                                                       

■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.