An act relating to a refundable machinery and equipment investment tax credit

Summary

The bill changes the state’s credit for corporate investment in machinery and equipment from a non‑refundable credit to a refundable one, allowing businesses to get back up to $500,000 of excess credit. It also pushes the credit’s sunset from 2030 to 2034 while keeping the overall $8 million credit limit and the $1 million annual cap. Certified companies must report job and investment data each year.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share