2008 Senate Bill 1198

Revise small business tax rate restrictions

Introduced in the Senate

March 11, 2008

Introduced by Sen. Nancy Cassis (R-15)

To increase the maximum earnings cap and executive compensation cap that limit certain a firm’s eligibility for the lower Michigan Business Tax small business rate, extend an MBT " entrepreneurial tax credit" beyond 2010, and increase the value of that credit.

Referred to the Committee on Finance

April 22, 2008

Amendment offered by Sen. Michael Prusi (D-38)

To tie-bar the bill to Senate Bill 86, meaning this bill cannot become law unless that one does also. SB 86 would increase the maximum length of time an individual may receive unemployment insurance benefits from 26 weeks to 39 weeks.

The amendment failed 19 to 19 (details)

Passed in the Senate 23 to 15 (details)

Received in the House

April 22, 2008

Referred to the Committee on Tax Policy