Individual income tax: credit; credit for certain investments in Michigan businesses; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 281.

SB 115 creates a 50% tax credit for individual Michigan taxpayers who invest in qualifying Michigan businesses, with a maximum credit of $3,000 per business and $3,000 total per tax year. Taxpayers must obtain certification from the Michigan Strategic Fund within 60 days of investing to claim the credit. The credit can be carried forward for up to 10 years if it exceeds the taxpayer’s current tax liability. Qualifying businesses must be headquartered in Michigan with at least 80% of revenue, assets, and employees located in the state, as certified by the Strategic Fund.