A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending sections 701 and 703 (MCL 206.701 and 206.703), section 701 as amended by 2022 PA 148 and section 703 as amended by 2016 PA 158, and by adding sections 285 and 677.
HBs 4907 and 498 authorize a total of $2.075 billion in tax credits over the next decade for film production in Michigan. Tax credit incentives start at 25% of qualified expenditures, potentially increasing to 30% under certain conditions, with additional incentives for employing Michigan residents and for productions involving minority, woman, disabled, or veteran-owned Michigan vendors. Credits are transferrable to up to 10 grantees.
Co-sponsored by Reps.
Referred to the Committee on Economic Development and Small Business
Reported without amendment
