Introduced
by
To increase the maximum earnings cap and executive compensation cap that limit certain a firm’s eligibility for the lower Michigan Business Tax small business rate, extend an MBT "entrepreneurial tax credit" beyond 2010, ease certain eligibility preconditions on the credit, and increase the value of that credit.
Referred to the Committee on Finance
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 increase the value of the MBT "entrepreneurial tax credit".
The substitute passed by voice vote
Amendment offered
by
To strip out the provision raising the business owners' compensation caps that limit eligibility for the lower small business MBT rate.
The amendment failed 16 to 21 (details)
Amendment offered
by
To tie-bar the bill to House Bills 4453-4455, meaning this bill cannot become law unless that one does also. Those bills impose new restrictions on mortgage lenders using the foreclosure-by-advertisement.
The amendment failed 18 to 19 (details)
Passed in the Senate 23 to 14 (details)
To increase the maximum earnings cap and owners' compensation cap that limit certain a firm’s eligibility for the lower Michigan Business Tax small business rate, extend an MBT "entrepreneurial tax credit" beyond 2010, ease certain eligibility preconditions on the credit.
Referred to the Committee on Tax Policy
