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Bill > HB6334
MI HB6334
MI HB6334Individual income tax: credit; tax incentive for certain motor fuel retail dealers that offer grades of biodiesel; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 277a & 677a.
summary
Introduced
06/30/2022
06/30/2022
In Committee
06/30/2022
06/30/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
101st Legislature
Bill Summary
Individual income tax: credit; tax incentive for certain motor fuel retail dealers that offer grades of biodiesel; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 277a & 677a.
AI Summary
This bill provides a tax credit for certain motor fuel retail dealers in Michigan that offer grades of biodiesel fuel. Specifically, the bill allows retail dealers to claim a $0.05 per gallon credit against their individual income tax for selling and dispensing B5 fuel (diesel fuel blended with up to 5% biodiesel) through metered pumps at their motor fuel sites. The credit is available for tax years from 2023 through 2027, and if the credit exceeds the retailer's tax liability, the excess will be refunded.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Bill Electronically Reproduced 06/30/2022 (on 07/20/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | http://legislature.mi.gov/doc.aspx?2022-HB-6334 | 07/01/2022 |
| BillText | http://www.legislature.mi.gov/documents/2021-2022/billintroduced/House/htm/2022-HIB-6334.htm | 07/01/2022 |
| Bill | http://www.legislature.mi.gov/documents/2021-2022/billintroduced/House/pdf/2022-HIB-6334.pdf | 07/01/2022 |
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