Public Act 5 of 2009

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• Introduced by Rep. Dian Slavens (D) on March 4, 2009, to expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability.
  • Referred to the House Tax Policy Committee on March 4, 2009.
    • Reported in the House on March 5, 2009, without amendment and with the recommendation that the bill pass.
• Passed in the House (105 to 4) on March 10, 2009, to expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability. See also Senate Bill 319. [Vote Details and Comments]
• Received in the Senate on March 11, 2009.
  • Referred to the Senate Commerce & Tourism Committee on March 11, 2009.
    • Reported in the Senate on March 26, 2009, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
  • Substitute offered in the Senate on March 26, 2009, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed in the Senate by voice vote on March 26, 2009.
• Passed in the Senate (37 to 0) on March 26, 2009, to expand from one to three the number of refundable, $100 million, capital investment Michigan Business Tax credit agreements that could be entered into with makers of plug-in traction battery packs used in electric cars, which were authorized by a 2008 law, and increase from $70 million to $90 million total credits for “battery integration, prototyping, and launch” expenses. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $220 million to that. “Refundable” means that the state will send a manufacturer a check for the amount that the credit exceeds the firm’s tax liability. See also Senate Bill 319. [Vote Details and Comments]
• Received in the House on March 26, 2009.
• Passed in the House (105 to 4) on March 26, 2009, to concur with the Senate-passed version of the bill. [Vote Details and Comments]
• Signed by Gov. Jennifer Granholm on April 6, 2009.