Bill Text: MI HB4170 | 2009-2010 | 95th Legislature | Introduced

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Bill Title: Income tax; credit; credit for biomass gathering and handling; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.532) by adding sec. 273.

Spectrum: Moderate Partisan Bill (Democrat 9-1)

Status: (Introduced - Dead) 2009-02-10 - Printed Bill Filed 02/06/2009 [HB4170 Detail]

Download: Michigan-2009-HB4170-Introduced.html

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HOUSE BILL No. 4170

 

February 5, 2009, Introduced by Reps. Cushingberry, Espinoza, Terry Brown, Lemmons, Spade, Hansen, McDowell, Lahti, Durhal and Simpson and referred to the Committee on Energy and Technology.

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.532) by adding section 273.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 273. (1) For tax years that begin on and after January 1,

 

2009 and before January 1, 2014, a taxpayer that collects, handles,

 

packages, sorts, prepares, dries, densifies, or stores biomass to

 

deliver or release that biomass to biomass conversion facilities

 

that process or convert the biomass into biofuels, bioenergy, or

 

bioproducts may claim a credit against the tax imposed by this act

 

equal to $5.00 for every dry ton of biomass that the taxpayer

 

delivered or released to a biomass conversion facility in the tax

 

year, not to exceed $25,000.00 per tax year per each taxpayer.

 

     (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) "Bioenergy" means heat or electricity produced from the

 

thermal, mechanical, or biological processing of biomass. Bioenergy

 

does not include heat or electricity produced from the direct

 

combustion of biomass.

 

     (b) "Biofuels" means ethanol, biodiesel, butanol, or other

 

liquid fuels produced from biomass.

 

     (c) "Biomass" means any organic matter that is available on a

 

renewable or recurring basis, including, but not limited to,

 

agricultural crops, certain trees and grasses, plants, wood

 

residues, forest industry residues and wastes, food processing

 

wastes, municipal solid wastes, and agricultural residues and

 

wastes such as cornstalks, corncobs, and manure.

 

     (d) "Bioproducts" means industrial, commercial, or consumer

 

products made with, or composed in whole or in significant part of,

 

fibers, solid, liquid, or gaseous chemicals, proteins,

 

carbohydrates, lipids, minerals, or any other substance produced

 

from biomass.