A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding sections 279 and 679.
Senate Bills 557 and 558 establish Michigan’s Aerospace Defense Incentive Program by creating designated aerospace defense zones and offering time-limited, capped tax credits—up to 30% for qualified R&D expenses and 20% for inventory costs—to certified businesses from 2026 to 2029, while amending the Michigan Income Tax Act and the Michigan Strategic Fund Act to enhance oversight, reporting, and transparency in support of the state’s aerospace and defense innovation, manufacturing, and job growth.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
