2018 Senate Bill 754

Require “clawbacks” in some corporate tax break and subsidy deals

Introduced in the Senate

Jan. 18, 2018

Introduced by Sen. Jim Ananich (D-27)

To require that if any of the business subsidy agreements granted to particular firms under the suspended Michigan Economic Growth Authority (MEGA) program and possibly some other programs are amended, then the changes must include adding a 100 percent “clawback” provision, which requires a company to pay back all the tax breaks or cash subsidies if it leaves the state or violates other terms of the handout.

Referred to the Committee on Finance