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2008 Senate Bill 1264: Increase Michigan International Speedway tax breaks

Public Act 572 of 2008

Introduced by Sen. Randy Richardville (R) on April 17, 2008 To increase from $25 million to $30 million a refundable Michigan Business Tax credit for upgrades at the Michigan International Speedway. Refundable means the state would write the firm a check for the difference between the credit and the its actual tax liability, if any.   Official Text and Analysis.
Referred to the Senate Finance Committee on April 17, 2008
Reported in the Senate on November 13, 2008 With the recommendation that the bill pass.
Passed 26 to 10 in the Senate (see names) on November 13, 2008 (same description)
To increase from $25 million to $30 million a refundable Michigan Business Tax credit for upgrades at the Michigan International Speedway. Refundable means the state would write the firm a check for the difference between the credit and the its actual tax liability, if any.
Received in the House on November 13, 2008
Referred to the House Tax Policy Committee on November 13, 2008
Reported in the House on December 10, 2008 Without amendment and with the recommendation that the bill pass.
Amendment offered by Rep. Steve Bieda (D) on December 19, 2008 To clarify that the proposed tax break/subsidy only applies for expenditures by the speedway in Michigan.
The amendment passed by voice vote in the House on December 19, 2008
Amendment offered by Rep. Paul Condino (D) on December 19, 2008 To revise various dates in the bill to reflect the later-than-expected final passage date.
The amendment passed by voice vote in the House on December 19, 2008
Passed 90 to 2 in the House (see names) on December 19, 2008 (same description)
To increase from $25 million to $30 million a refundable Michigan Business Tax credit for upgrades at the Michigan International Speedway. Refundable means the state would write the firm a check for the difference between the credit and the its actual tax liability, if any.
Received in the Senate on December 19, 2008 To concur with the House-passed version of the bill.
Passed 26 to 5 in the Senate (see names) on December 19, 2008
Moved to reconsider by Sen. Gretchen Whitmer (D) on December 19, 2008 So as to pass the bill again after granting excused absences to two members who had left.
The motion passed by voice vote in the Senate on December 19, 2008
Received in the Senate on December 19, 2008
Passed 26 to 7 in the Senate (see names) on December 19, 2008
Signed by Gov. Jennifer Granholm on January 15, 2009

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