Introduced
by
To authorize a refundable Michigan Business Tax credit for certain high technology businesses designated as “anchor companies.” The credit would be based on the payroll attributed to other companies that locate in Michigan because of the "anchor company's" high tech processes or products. Only five firms would be granted these tax break each year (unless the legislature voted to expand that, which happens all the time with similar targeted tax break schemes). "Refundable" means the state would send the firm a check if the credit exceeds its tax liability.
Referred to the Committee on Commerce and Tourism
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 revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 34 to 1 (details)
Referred to the Committee on New Economy and Quality of Life
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.
The substitute passed by voice vote
Passed in the House 107 to 1 (details)
To authorize a refundable Michigan Business Tax credit for certain high technology businesses designated as “anchor companies.” The credit would be based on the payroll attributed to other companies that locate in Micigan because of the "anchor company's" high tech processes or products. Only five firms would be granted these tax break each year (unless the legislature voted to expand that, which happens all the time with similar targeted tax break schemes). "Refundable" means the state would send the firm a check if the credit exceeds its tax liability.
Passed in the Senate 37 to 1 (details)
