LANSING — State Representative Nancy Jenkins-Arno of Rollin Township is celebrating the advancement of her proposal aimed at strengthening Michigan’s economy through community investment.
House Bill 4816 would allow taxpayers who invest in Michigan-based companies to claim a 50% income tax credit on qualifying investments. The credit is capped at $3,000 per investor per business, and $3,000 total per tax year.
Jenkins-Arno said the measure is designed to help small and growing Michigan businesses that drive job creation and innovation across local communities. The bill encourages residents to invest directly in Michigan enterprises and receive a financial incentive in return.
The legislation was developed in partnership with Chris Miller, CEO of the National Coalition for Community Capital and Adrian resident, who helped shape the framework for citizen-based investment opportunities.
The House Finance Committee approved the bill with bipartisan support. It now moves to the House Rules Committee for further consideration.