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HB 5979

Economic development: Michigan strategic fund; approval and certification of certain research and development tax credits; authorize. Amends title & secs. 7 & 9 of 1984 PA 270 (MCL 125.2007 & 125.2009).

2023-2024 Regular Session Introduced by Donavan McKinney and 2 co-sponsors

Bill modifies Michigan R&D tax credit approval procedures through the Strategic Fund, affecting how businesses claim innovation incentives and state budget exposure.

bill electronically reproduced 09/26/2024
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Bill Summary · HB 5979

Legislative bill overview

HB 5979 amends Michigan's 1984 Public Act 270 to modify how research and development (R&D) tax credits are approved and certified through the Michigan Strategic Fund. The bill adjusts the administrative procedures and potentially the eligibility criteria for companies claiming R&D tax incentives in the state.

Why is this important

R&D tax credits are a major economic development tool that Michigan uses to attract and retain businesses in innovation sectors. Changes to how these credits are approved can significantly impact which companies qualify, how quickly they receive benefits, and the overall cost to the state budget—affecting both business competitiveness and public finances.

Potential points of contention

  • Fiscal impact unclear: The bill summary doesn't specify whether changes expand or reduce tax credit availability, making it difficult to assess budget implications
  • Approval process changes: Modifications to certification procedures could either streamline business access or tighten oversight, depending on implementation details
  • Competitive equity: Changes in eligibility or approval timelines may advantage certain industries or company sizes over others, raising fairness concerns among different business sectors

Compiled from official sources — confirm details with the bill’s official record.

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