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Legislation watch
2012 Senate Bill 1067: Cut tax imposed on business tools and equipment
Public Act 399 of 2012
Introduced by Sen. Bruce Caswell R-Hillsdale on April 17, 2012
To revise details of a law authorizing selective tax breaks for certain specified companies, so as to accommodate the proposal in Senate Bills 1069 to 1072 to cut the property tax that manufacturers currently pay on business tools and equipment (called the “personal property tax”), and eliminate it for smaller non-manufacturing businesses. Official Text and Analysis.
Referred to the Senate Finance Committee on April 17, 2012
Reported in the Senate on May 2, 2012
With the recommendation that the bill pass.
Amendment offered by Sen. Dave Hildenbrand R-Lowell on May 10, 2012
To suspend the proposed personal property tax cuts on business tools and equipment if the legislature fails to appropriate the reimbursements to local governments of foregone revenue proposed by Senate Bill 1072.
The amendment passed by voice vote in the Senate on May 10, 2012
Received in the House on May 10, 2012
Referred to the House Tax Policy Committee on May 10, 2012
Reported in the House on December 5, 2012
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered in the House on December 13, 2012
The substitute passed by voice vote in the House on December 13, 2012
Amendment offered by Rep. Phil Cavanagh D-Redford Twp. on December 13, 2012
To reimpose the tool and equipment tax on industrial plants if the legislature fails to appropriate replacement revenue to local governments.
The amendment failed by voice vote in the House on December 13, 2012
Amendment offered by Rep. Vicki Barnett D-Farmington Hills on December 13, 2012
To postpone by one year the key provision of this bill.
The amendment failed by voice vote in the House on December 13, 2012
Amendment offered by Rep. Jeff Farrington R-Utica on December 13, 2012
To make the bill's provisions contingent on approval by voters of a measure earmarking a portion to the state use tax to replacing local government revenue foregone by cutting the property tax on business tools and equipment.
The amendment passed by voice vote in the House on December 13, 2012
Received in the Senate on December 14, 2012
To concur with the House-passed version of the bill.
Signed by Gov. Rick Snyder on December 20, 2012