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2012 Senate Bill 1071: Cut tax imposed on business tools and equipment

Public Act 403 of 2012

Introduced by Sen. Mike Nofs (R) on April 17, 2012
To eliminate (starting in 2015) the so-called “personal property tax” that manufacturers currently pay on tools and equipment (including things like assembly lines), if the equipment has been in use for at least 10 years. This is part of a package comprised of Senate Bills 1065 to 1072.   Official Text and Analysis.
Referred to the Senate Finance Committee on April 17, 2012
Amendment offered by Sen. Dave Hildenbrand (R) 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 of foregone revenue to local governments 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-1) 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) on December 13, 2012
To reimpose the tax imposed on business tools and equipment 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) on December 13, 2012
To delay the proposed phase-out of this tax.
The amendment failed by voice vote in the House on December 13, 2012
Amendment offered by Rep. Jeff Farrington (R) 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
Amendment offered by Rep. Jeff Farrington (R) on December 13, 2012
To revise a detail of how the tax cut (which comes in the form of a tax "credit") will be claimed by businesses.
The amendment passed by voice vote in the House on December 13, 2012
Amendment offered by Rep. Jud Gilbert (R) on December 13, 2012
To classify some specific types of business activity as "industrial," which means larger tax cuts under this legislative package.
The amendment passed by voice vote in the House on December 13, 2012
To gradually eliminate the so-called “personal property tax” that manufacturers currently pay on tools and equipment (including things like assembly lines). This is part of a package comprised of Senate Bills 1065 to 1072.
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

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