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• Introduced by Rep. William O'Neil (D) on April 10, 2003, to prohibit “flow-through” and subsidiary business entities from shifting unrealizable single business tax credit and loss carry-forwards to the parent company, or vice versa. This bill is one of many authorizing “revenue enhancements” which Gov. Jennifer Granholm has proposed to close a gap between state spending and expected revenue in the Fiscal Year 2003-2004 budget.
  • Referred to the House Tax Policy Committee on April 10, 2003.