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2008 Senate Bill 1267: Authorize tax break for Hemlock Semiconductor

Public Act 265 of 2008

Introduced by Sen. Tony Stamas R- on April 17, 2008
To grant a refundable business tax break based on the price it pays for electricity to the Hemlock Semiconductor company and perhaps other producers of polycrystalline silicon used in solar cells and semiconductor chips. Refundable means that if the value of the tax credit exceeds what the company owes, the state would write it a check for the difference.   Official Text and Analysis.
Referred to the Senate Commerce & Tourism Committee on April 17, 2008
Reported in the Senate on April 23, 2008
With the recommendation that the bill pass.
Amendment offered by Sen. Nancy Cassis R- on April 24, 2008
To reduce the value of the proposed tax credit by 25 percent, and reduce it another 10 percent for each 10 percent increment of electricity the firm uses compared to the amount that is projected.
The amendment failed by voice vote in the Senate on April 24, 2008
Received in the House on April 24, 2008
Referred to the House Energy and Technology Committee on April 24, 2008
Signed by Gov. Jennifer Granholm on August 6, 2008