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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionMichigan
Jurisdiction type: State
Fiscal year ending In2018
Program nameMEGA Battery Credit Program
Program purpose: Technology (energy)
Statutory authority: Public Act 39 of 2011 MCL Sections 207.801 - 207.810 and 208.1434
Abating jurisdiction(s): State of Michigan
Applicable taxesMichigan Business Tax
Method of abatement: Tax Credit
Provisions for recapture: As determined by MEGA, the taxpayer may have its credit reduced or terminated, or have a percentage of the credit amount previously claimed added back to the tax liability of the taxpayer in the year that the taxpayer fails to comply with the agreement. MEGA battery manufacturing facility credit agreements include a repayment provision if the taxpayer fails to meet certain requirements of the agreement.
Gross revenue loss: $10,600,000
Reimbursement / offset: $0
Net revenue loss: $10,600,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.michigan.gov/budget/fiscal-pages/reports/annual-comprehensiv...