Introduced
by
To authorize a refundable Michigan Business Tax credit equal to 30 percent of the costs incurred by a gas station to convert existing pumps and tanks, or acquire new ones that deliver E85 ethanol or biodiesel fuel. “Refundable” means the state would write checks to station owners whose credit against the amount spent on this equipment is more than what they owe in taxes.
Referred to the Committee on Agriculture
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that makes the tax credit non-refundable.
The substitute passed by voice vote
Amendment offered
by
To revise which government aqency will have authority over certifying eligibility for the subsidies.
The amendment passed by voice vote
Passed in the House 108 to 1 (details)
To authorize a nonrefundable Michigan Business Tax credit equal to 30 percent of the costs incurred by a gas station to convert existing pumps and tanks, or acquire new ones that deliver E85 ethanol or biodiesel fuel, up to $20,000 per taxpayer per year. A total of no more than $1 million in credits would be allowed per calendar year.
Passed in the Senate 35 to 3 (details)
