Public Act 26 of 2009
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- Introduced by Sen. Wayne Kuipers (R) on April 23, 2009, to authorize a $100 million refundable Michigan Business Tax credit and other subsidies that would go to a subsidiary of the Korea-based LG Chem battery company for a plant in Michigan. The bill increases and adds a fourth beneficiary for the subsidies authorized by a 2008 law, further expanded by 2009 law. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $145 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 Senate Commerce & Tourism Committee on April 23, 2009.
- Reported in the Senate on April 29, 2009, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
- Substitute offered in the Senate on April 29, 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 by voice vote in the Senate on April 29, 2009.
- Referred to the Senate Commerce & Tourism Committee on April 23, 2009.
- Passed 36 to 0 in the Senate on April 30, 2009.
Who Voted "Yes" and Who Voted "No" - Received in the House on April 30, 2009.
- Referred to the House Tax Policy Committee on April 30, 2009.
- Reported in the House on May 6, 2009, without amendment and with the recommendation that the bill pass.
- Referred to the House Tax Policy Committee on April 30, 2009.
- Passed 102 to 6 in the House on May 7, 2009, to authorize a $100 million refundable Michigan Business Tax credit and other subsidies that would go to a subsidiary of the Korea-based LG Chem battery company for a plant in Michigan. The bill increases and adds a fourth beneficiary for the subsidies authorized by a 2008 law, further expanded by 2009 law. The 2008 law authorized various subsidies estimated at $335 million over seven years. This bill would add an additional $145 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.
Who Voted "Yes" and Who Voted "No" - Signed by Gov. Jennifer Granholm on May 12, 2009.
Comments
1) Re: 2009 Senate Bill 466 (Increase electric car subsidies ) by thejmfc on July 17, 2010On the other hand, shame on my senator, Wayne Kuipers for sponsoring this bill in the senate! That's not the kind of leadership we need in Michigan, let along be sending to the US House. He certainly won't be getting my vote in the August primary, and I'll be telling people why.
Thanks to Agema (my rep), Amash, Meekhof, and the rest of the principled conservatives who stood up against this thing.
This isn't the way to do business in Michigan. Why throw money at outside companies to get them to locate here, while taxing existing business to the point of extinction?
Level the playing field; make it fair and make it competitive.
The market as of late has not "move thing properly" very well.
Clearly because, It takes a FREE MARKET to move things properly.
NOT our current POLITICAL (ie Fascist) Market
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