Michigan HB4128 provides a tax credit for electricity produced by small modular reactors at qualified facilities.

Michigan HB4128 amends the state's corporate income tax law to allow a credit for electricity produced by small modular reactors at qualified facilities. The credit is equal to $1.00 per kilowatt hour of electricity produced and sold to an unrelated person. A qualified facility must use advanced nuclear reactor technologies and be owned by the taxpayer. The credit is limited to the first 10 years of operation and the first 10,000 megawatts of electricity produced by a single facility. If the credit exceeds the taxpayer's tax liability, the excess can be carried forward for up to 15 years.

Michigan HB4128 provides a tax credit for electricity produced by small modular reactors at qualified facilities.

Michigan HB4128 amends the state's corporate income tax law to allow a credit for electricity produced by small modular reactors at qualified facilities. The credit is equal to $1.00 per kilowatt hour of electricity produced and sold to an unrelated person. A qualified facility must use advanced nuclear reactor technologies and be owned by the taxpayer. The credit is limited to the first 10 years of operation and the first 10,000 megawatts of electricity produced by a single facility. If the credit exceeds the taxpayer's tax liability, the excess can be carried forward for up to 15 years.