A bill to amend 1984 PA 270, entitled “Michigan strategic fund act,” by amending the title and sections 7 and 9 (MCL 125.2007 and 125.2009), the title as amended by 2005 PA 225, section 7 as amended by 2020 PA 358, and section 9 as amended by 2024 PA 117, and by adding section 88v.
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
