State Rep. Nancy Jenkins-Arno (R-Rollin Township) today testified before the House Rules Committee in support of her plan to encourage investment in Michigan-based businesses and strengthen the state’s economy.

The proposal was inspired by Chris Miller, a constituent in Jenkins-Arno’s district, who emphasized how encouraging investment in Michigan companies could help local businesses expand, create jobs, and support the state’s economy.

“Michigan businesses are the backbone of our economy,” said Jenkins-Arno. “They create jobs, strengthen local communities, and drive innovation across our state. This plan empowers residents to invest directly in the success of Michigan companies.”

House Bill 4816, sponsored by Jenkins-Arno, would allow individuals who invest in a qualified Michigan business to claim an income tax credit equal to 50% of their investment, with the credit capped at $3,000 per investor per tax year.

Under HB 4816, qualified investments would need to ensure the business is based in Michigan, has a majority of employees in the state, and derives most of its revenues and assets from Michigan operations.

“This will help small and growing Michigan businesses expand and create more jobs,” said Jenkins-Arno. “By encouraging homegrown investment, we can keep capital here in Michigan and support the entrepreneurs who are building our state’s future.”