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2009 House Bill 5641: Authorize MEGA interest expense tax break
Introduced by Rep. Kevin Green (R) on December 2, 2009
To authorize a Michigan Business Tax credit equal to half the interest expense incurred by a Michigan Economic Growth Authority subsidy or tax break beneficiary for money borrowed to make the capital investment for which the subsidy or tax break was offered. These credits would not be “refundable” (that is, would not be a cash subsidy), but could be “carried forward” from year to year to offset future MBT liability.   Official Text and Analysis.
Referred to the House New Economy And Quality Of Life Committee on December 2, 2009