Act No. 208

Public Acts of 2007

Approved by the Governor

December 27, 2007

Filed with the Secretary of State

December 27, 2007

EFFECTIVE DATE: January 1, 2008

STATE OF MICHIGAN

94TH LEGISLATURE

REGULAR SESSION OF 2007

Introduced by Reps. Bieda, Brandenburg, Accavitti, Acciavatti, Agema, Ball, Bauer, Brown, Calley, Casperson, Clemente, Condino, Corriveau, Dillon, Espinoza, Farrah, Gillard, Gonzales, Griffin, Hammel, Hammon, Hansen, Hildenbrand, Hopgood, Huizenga, Jackson, Johnson, Knollenberg, LaJoy, DavidLaw, LeBlanc, Lemmons, Marleau, Mayes, McDowell, Meekhof, Melton, Meltzer, Moss, Opsommer, Palsrok, Pastor, Pavlov, Polidori, Rocca, Sak, Schuitmaker, Scott, Sheltrown, Simpson, Alma Smith, Spade, Steil, Tobocman, Vagnozzi and Wojno

ENROLLED HOUSE BILL No. 5409

AN ACT to amend 2007 PA 36, entitled "An act to meet deficiencies in state funds by providing for the imposition, levy, computation, collection, assessment, reporting, payment, and enforcement of taxes on certain commercial, business, and financial activities; to prescribe the powers and duties of public officers and state departments; to provide for the inspection of certain taxpayer records; to provide for interest and penalties; to provide exemptions, credits, and refunds; to provide for the disposition of funds; to provide for the interrelation of this act with other acts; and to make appropriations," (MCL 208.1101 to 208.1601) by adding section 450a.

The People of the State of Michigan enact:

Sec. 450a. (1) A taxpayer that qualified to claim the credit under section 34 of former 1975 PA 228 may claim the credit under section 450 for the total number of years designated in the agreement, reduced by the number of years the taxpayer claimed the credit under section 34 of former 1975 PA 228, or until January 1, 2016, whichever occurs first.

(2) A taxpayer that claims a credit under section 450 is not prohibited from claiming a credit under section 405. However, the taxpayer shall not claim a credit under section 450 and section 405 based on the same research and development.

Enacting section 1. This amendatory act takes effect January 1, 2008.

This act is ordered to take immediate effect.

Clerk of the House of Representatives

Secretary of the Senate

Approved

Governor