August 21, 2007, Introduced by Reps. Byrum, Valentine and Mayes and referred to the Committee on Agriculture.
A bill to amend 2007 PA 36, entitled
"Michigan business tax act,"
(MCL 208.1101 to 208.1601) by adding section 451.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 451. (1) For tax years that begin on or after January 1,
2008, a taxpayer may claim a credit against the tax imposed by this
act equal to the cost of manufacturing biomass burning units.
(2) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall not be
refunded.
(3) As used in this section:
(a) "Biomass burning unit" means a stove, furnace, or boiler
designed specifically to utilize biomass fuel and that has a
capacity of at least 30,000 BTUs. Biomass burning unit does not
include a conventional wood burning stove.
(b) "Biomass fuel" means any form of fuel, including pellets,
made from agricultural or forest products waste, including, but not
limited to, corn, rye, wheat, barley, cherry pits, wood, and
switchgrass.