Public Act 251 of 2003

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• Introduced by Sen. Valde Garcia (R) on November 4, 2003, to extend the Dec. 31, 2003 sunset of the Michigan Economic Growth Authority (MEGA) until Dec. 31, 2009. MEGA is authorized to grant tax credits to companies that promise (but are not required to guarantee) to create or retain a certain number of jobs. The bill would add a provision requiring a Department of Treasury audit of whether the promised new jobs have been delivered.
  • Referred to the Senate Commerce and Labor Committee on November 4, 2003.
    • Reported in the Senate on November 6, 2003, with the recommendation that the bill pass.
  • Substitute offered in the Senate on November 12, 2003, to replace the previous version of the bill with one which incorporates technical changes, and which was amended to eliminate a provision requiring the Department of Treasury to audit whether the new jobs promised by a MEGA beneficiary firm have been delivered, and instead require the beneficiary to provide an independent audit containing the information. The substitute passed by voice vote in the Senate on November 12, 2003.
• Passed 38 to 0 in the Senate on November 12, 2003, to extend the Dec. 31, 2003 sunset of the Michigan Economic Growth Authority (MEGA) until Dec. 31, 2009. MEGA is authorized to grant tax credits to companies that promise (but are not required to guarantee) to create or retain a certain number of jobs. The bill would add a provision requiring a MEGA beneficiary firm to provide an independent audit each year showing whether the new jobs it promised have been delivered.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on November 12, 2003.
  • Referred to the House Commerce Committee on November 12, 2003.
    • Reported in the House on December 3, 2003, without amendment and with the recommendation that the bill pass.
  • Substitute offered by Rep. Clark Bisbee (R) on December 10, 2003, to replace the previous version of the bill with one which adds new, retroactive tax credits for a “distressed business,” defined as a business with 150 or more employees who laid off more than 30 percent of its employees during a consecutive two-year period during the last four years. The substitute passed by voice vote in the House on December 10, 2003.
  • Amendment offered by Rep. Clark Bisbee (R) on December 10, 2003, to strip out a provision requiring a MEGA beneficiary firm to provide an annual independent audit showing whether the new jobs it promised have been delivered, and instead only require the audit if requested by the Michigan Economic Development Corporation (MEDC). The amendment passed by voice vote in the House on December 10, 2003.
• Passed 103 to 2 in the House on December 10, 2003, to extend the Dec. 31, 2003 sunset of the Michigan Economic Growth Authority (MEGA) until Dec. 31, 2009. MEGA is authorized to grant tax credits to companies that promise (but are not required to guarantee) to create or retain a certain number of jobs. The bill would add a provision requiring a MEGA beneficiary firm to provide an independent audit if requested by the Michigan Economic Development Corporation (MEDC), showing whether the new jobs it promised have been delivered.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on December 11, 2003.
• Passed 38 to 0 in the Senate on December 17, 2003, to concur with the House-passed version of the bill.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on December 23, 2003.