Introduced in the Senate on June 22, 2005, to lower the Single Business Tax rate from 1.9 percent to 1.84 percent, and make more restrictive the thresholds that allow a firm to use the alternative gross receipts tax calculation method, or to claim an "excess compensation" SBT credit. This becomes part of a business tax cut proposal offered by Senate Majority Leader Ken Sikkema as an alternative to a
larger tax cut passed by the HouseThe vote was 22 in favor, 16 opposed and 0 not voting
(Senate Roll Call 510 at Senate Journal 94)
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