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2010 House Bill 6235: Extend Michigan International Speedway tax break

Public Act 103 of 2010

  1. Introduced by Rep. Richard LeBlanc (D) on June 2, 2010, to push back from 2012 to 2017 the year by which Michigan International Speedway must make certain infrastructure improvements for which the state will provide its owners with a $1.58 million business tax break credit.
    • Referred to the House Natural Resources, Tourism, and Outdoor Recreation Committee on June 2, 2010.
      • Reported in the House on June 8, 2010, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
    • Substitute offered in the House on June 10, 2010, to replace the previous version of the bill with one that revises details but does not change the substance as previously described. The substitute passed by voice vote in the House on June 10, 2010.
  2. Passed 92 to 12 in the House on June 10, 2010, to push back from 2012 to 2017 the year by which Michigan International Speedway must make certain infrastructure improvements for which the state will provide its owners with a $1.58 million business tax credit.
    Who Voted "Yes" and Who Voted "No"

  3. Received in the Senate on June 15, 2010, to push back from 2012 to 2017 the year by which Michigan International Speedway must make certain infrastructure improvements for which the state will provide its owners with a $1.58 million business tax credit.
    • Referred to the Senate Finance Committee on June 15, 2010.
      • Reported in the Senate on June 22, 2010, with the recommendation that the bill pass.
  4. Passed 36 to 1 in the Senate on June 24, 2010.
    Who Voted "Yes" and Who Voted "No"

  5. Signed by Gov. Jennifer Granholm on June 29, 2010.

Comments

Re: 2010 House Bill 6235 (Extend Michigan International Speedway subsidy )  by My Pursuit on June 10, 2010 

The previous post said it all, but I only have one additional question...


 How many thousands of jobs will this subsidy help create?


Thank You. 


 



Re: 2010 House Bill 6235 (Extend Michigan International Speedway subsidy )  by FreeSpeaker on June 10, 2010 

We are told that the purpose of tax subsidies, like the one afforded Michigan International Speedway, is to provide incentive for private enterprises to invest in their businesses, to bolster the state economy.  The taxpaying pubic at large supposedly will benefit from expanded employment opportunities and an expanded tax base.


In this case, evidently MIS has not met its investment obligation -- in effect reneged on the deal.  This proposal would extend the subsidy.  That kicks it over into the corporate welfare category.  This bill should not pass.  From here on out let MIS carry the burden of its own expansion and facilities improvements, rather than shift the burden to Michigan taxpayers and their State, who and which can ill afford it.



Re: 2010 House Bill 6235 (Extend Michigan International Speedway subsidy )  by albaby2 on June 10, 2010 

 $1.5? Why not?



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