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NEWS & UPDATES
ARKANSAS MODERNIZATION AND AUTOMATION TAX CREDIT
On April 17, 2025, Arkansas Governor Sarah Sanders signed Act 882 into law, amending the Consolidated Incentive Act of 2003 to establish the Modernization and Automation Tax (MAT) Credit. This new initiative was created specifically to
support Arkansas’s aging, capital-intensive industries, such as food processing, paper and pulp, metals, and chemicals, to name a few, that are facing increasing pressure to reinvest in existing facilities to remain competitive.
MISSISSIPPI ENHANCES THE MFLEX INCENTIVE
Effective March 13, 2025, Mississippi enacted Senate Bill 2846, expanding its MFLEX – Mississippi Flexible Tax Incentive – Program for economic development projects throughout the State. This legislation broadens the definition of eligible projects and provides additional tools for local governments to attract and support business investments. The legislation is aimed at strengthening Mississippi's competitiveness by providing flexibility to the state and local government incentive packages.
MICHIGAN – NEW AND AMENDED DATA CENTER LEGISLATION
On January 9, 2025, Governor Gretchen Whitmer signed Michigan’s data center legislation into law, enacting changes to its existing data center sales & use tax exemption as well as creating a new program to try to attract large enterprise data centers. The State is in the process of finalizing the application guidelines and procedures for these data center incentives.
MASS LEADS ACT BOOSTS MASSACHUSETTS' ECONOMIC LEADERSHIP
On November 20, 2024, Governor Healey signed the Mass Leads Act (H.5100), a comprehensive economic development bill authorizing nearly $4 billion in spending, including the introduction of new tax incentives. These new and enhanced incentives are intended to position Massachusetts as a leader in both established and emerging industries, such as life sciences, climatetech, and artificial intelligence.
SIGNIFICANT CHANGES TO WISCONSIN'S BUSINESS DEVELOPMENT TAX CREDIT PROGRAM
The Wisconsin Economic Development Corporation (WEDC) has revamped the Business Development Tax Credit (BTC) Program to offer more flexibility for companies to respond to evolving market needs. These positive changes to the Program will allow more types of projects to qualify and apply to projects certified after January 1, 2024.
FEDERAL ADVANCED ENERGY PROGRAM: GREENHOUSE GAS EMISSION REDUCTION PRIMER
Additional Guidance via Notice 2023-44 has been issued by the US Treasury detailing the application, review, and award process for an allocation of $10B in clean energy tax credits. This Alert summarizes the Greenhouse Gas (GHG) Emission Reduction Projects category.
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