Individual income tax: credit; research and development credit for certain small employers; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 717.

This bill creates a new tax credit for Michigan employers to encourage research and development spending starting in 2025. The credit amount depends on company size, offering a higher percentage of expenses for businesses with fewer than 250 employees and an additional bonus for those that partner with in-state universities. To receive the credit, companies must submit a preliminary claim by April 1, 2026, and the total amount of all credits awarded in any single year is capped at $100 million, which may require reducing individual claims if the limit is reached.