To expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability.   Official Text and Analysis.

Without amendment and with the recommendation that the bill pass.

To expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability. See also Senate Bill 319.

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

To expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability. See also Senate Bill 319.

To concur with the Senate-passed version of the bill.