Introduced by Sen. Nancy Cassis (R) on September 24, 2008, to require an annual report that the Michigan Economic Growth Authority (MEGA) is required to submit to the legislature to include “the amount of capital investment and the number of jobs required to be created or retained” during the year by each business that enters into a tax break agreement with the Authority. Currently the report must include aggregate figures on the total amount of capital investment and new jobs supposedly attracted by firms that are picked by state economic development officials to receive these selective tax breaks.
Referred to the Senate Finance Committee on September 24, 2008.
Reported in the Senate on October 15, 2008, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on November 12, 2008, 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 November 12, 2008.