Bill > HB4128

This bill creates a new corporate tax credit for electricity production using advanced nuclear reactor technologies, specifically small modular reactors (SMRs), extended power uprates, or stretch power uprates. The credit allows taxpayers to claim $1.00 for each kilowatt hour of electricity produced at a qualified facility and sold to an unrelated person. The credit is limited to the first 10 years of operation and the first 10,000 megawatt hours of electricity produced by a single facility. Taxpayers can carry forward unused credits for up to 15 tax years. The bill defines several key terms, including "small modular reactors" as small-scale advanced nuclear reactors that generate electricity through fission, and "qualified facility" as an existing nuclear facility or an advanced nuclear reactor facility using SMRs or power uprate technologies. The credit is specifically for facilities placed in service before June 1, 2040, and the bill requires taxpayers to provide documentation supporting their eligibility. The bill is contingent on the passage of five related House Bills, indicating it is part of a broader legislative package related to nuclear energy development.

Agriculture and Natural Resources

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4128