Introduced by Rep. Matt Huuki R-Atlantic Mine on November 8, 2012
To revise the taxation of “non-ferrous” mines (including new copper and other mineral mines in the Upper Peninsula). The bill is part of a package that would exempt these mines from property, income, sales and use taxes, and instead levy a “severance tax” on them based on the amount of material extracted. Various credits would be allowed against pre-operational start-up costs, including regulatory compliance costs. This bill contains the property tax exemption, and House Bill 6008 the new tax. Official Text and Analysis.
Referred to the House Tax Policy Committee on November 8, 2012
Reported in the House on November 27, 2012
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered in the House on November 28, 2012
The substitute passed by voice vote in the House on November 28, 2012