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.
State:
Michigan
Reporting Jurisdiction:
Michigan
Jurisdiction type
:
State
:
Fiscal year ending In:
2018
Program name:
MEGA Battery Credit Program
Program purpose:
Technology
:
Statutory authority:
Public Act 39 of 2011 MCL Sections 207.801 - 207.810 and 208.1434
:
Abating jurisdiction(s):
State of Michigan
:
Applicable taxes:
Michigan 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)
