SENATE BILL No. 761

 

 

September 12, 2007, Introduced by Senator GILBERT and referred to the Committee on Finance.

 

 

 

     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) An eligible taxpayer may claim a credit against

 

the tax imposed by this act equal to 25% of the taxpayer's expenses

 

incurred during the tax year to comply with 1976 IL 1, MCL 445.571

 

to 445.576. If the amount of the credit allowed under this section

 

exceeds the tax liability of the taxpayer for the tax year, that

 

excess shall not be refunded and shall not be carried forward as an

 

offset to the tax liability in subsequent tax years.

 

     (2) As used in this section:

 

     (a) "Beverage container" and "distributor" mean those terms as

 


defined under 1976 IL 1, MCL 445.571 to 445.576.

 

     (b) "Eligible taxpayer" means a distributor or manufacturer

 

who originates a deposit on a beverage container in accordance with

 

1976 IL 1, MCL 445.571 to 445.576.

 

     Enacting section 1. This amendatory act takes effect January

 

1, 2008.