Michigan HB4722 provides tax credits for biodiesel sales and production from 2025 to 2030.

Michigan HB4722 amends the state's motor fuel tax law to offer tax credits for biodiesel sales and production. For tax years 2025 through 2030, retail dealers can claim credits for biodiesel blends sold, with varying rates based on the biodiesel percentage. Biodiesel producers can also claim credits for biodiesel produced in the state. The credits are capped at $16 million for dealers and $2 million for producers annually. If credits exceed a taxpayer's liability, the excess is refunded.

Michigan HB4722 provides tax credits for biodiesel sales and production from 2025 to 2030.

Michigan HB4722 amends the state's motor fuel tax law to offer tax credits for biodiesel sales and production. For tax years 2025 through 2030, retail dealers can claim credits for biodiesel blends sold, with varying rates based on the biodiesel percentage. Biodiesel producers can also claim credits for biodiesel produced in the state. The credits are capped at $16 million for dealers and $2 million for producers annually. If credits exceed a taxpayer's liability, the excess is refunded.