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Energy committee adopts substitutes for nuclear tax-credit bills; local-property amendment fails
Summary
The House Energy, Communications, and Technology Committee adopted substitutes and moved forward a package of bills (HB4124–HB4129) broadening R&D and production tax credits to include the nuclear industry, including SMRs. An amendment to require SMRs be classified as real property and appraised by accepted principles was offered and failed.
Lansing — The House Energy, Communications, and Technology Committee on Tuesday adopted substitute language and reported a package of bills (HB4124–HB4129) that would expand research-and-development and production tax credits to the full nuclear industry, including small modular reactors (SMRs).
Chair Wenzel told the committee: “We're gonna get started this morning by voting out the nuclear package, HB 4,124 through 4,129, that we heard testimony on a few weeks back at our last meeting.” The committee adopted substitute language and then voted to report the bills to the next stage.
The bills, as described during debate, would broaden the R&D tax credit to cover the entire nuclear sector (from SMRs to investments at existing plants) and extend production tax-credit eligibility through 2040 so more firms can qualify. Committee members said the…
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