Corporate income tax: credits; annual report on research and development tax credits; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 718.

This bill requires the state department and the Michigan Strategic Fund to submit an annual report on the research and development tax credits by July 1 each year. The report must detail the overall effectiveness of these credits, the number of businesses filing claims, and specific names and amounts of credits for both standard claims and those involving university collaboration. This change directly affects the state's financial reporting process and provides legislators and the governor with data on how these tax incentives are being utilized by businesses.