2003 House Bill 4570

Introduced in the House

April 10, 2003

Introduced by Rep. William O'Neil (D-14)

To prohibit “flow-through” and subsidiary business entities from shifting unrealizable single business tax credit and loss carry-forwards to the parent company, or vice versa. This bill is one of many authorizing “revenue enhancements” which Gov. Jennifer Granholm has proposed to close a gap between state spending and expected revenue in the Fiscal Year 2003-2004 budget.

Referred to the Committee on Tax Policy