Introduced
by
To establish a tax voucher certificate system under which investors in the <a href="http://www.michiganvotes.org/2003-SB-834">Michigan Early Stage Venture Investment Fund</a> would obtain vouchers (in lieu of credits) that could be used to offset potential losses in these investments. Under this program, the state will subsidize up to $150 million in such losses.
Referred to the Committee on Commerce
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
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, and which makes this a part of the package of new business subsidies proposed by House Bill 5047.
The substitute passed by voice vote
Passed in the House 104 to 0 (details)
To establish a tax voucher certificate system under which investors in the <a href="http://www.michiganvotes.org/2003-SB-834">Michigan Early Stage Venture Investment Fund</a> would obtain vouchers (in lieu of credits) that could be used to offset potential losses in these investments. Under this program, the state will subsidize up to $150 million in such losses. The bill is part of the package of new business subsidies proposed by House Bill 5047.
Referred to the Committee on Government Operations and Reform
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that does not require that the business tax cuts passed by the House in House Bill 5108 go into effect for this and related business subsidy bills to go into effect.
The substitute passed by voice vote
Passed in the Senate 34 to 4 (details)
To establish a tax voucher certificate system under which investors in the <a href="http://www.michiganvotes.org/2003-SB-834">Michigan Early Stage Venture Investment Fund</a> would obtain vouchers (in lieu of credits) that could be used to offset potential losses in these investments. Under this program, the state will subsidize up to $150 million in such losses. The bill is part of the package of new business subsidies proposed by House Bill 5047.
Passed in the House 104 to 0 (details)
