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2013 Senate Bill 156: Revise MBT detail

Public Act 282 of 2014

Introduced by Sen. Jack Brandenburg R-Harrison Twp on February 6, 2013
To make changes clarifying the intent of a 2012 law revising the former Michigan Business Tax related to for amounts attributable to the taxpayer due to a discharge of indebtedness, and other factors. Some firms that benefit from selective state tax break/subsidy deals still file under this repealed tax.   Official Text and Analysis.
Referred to the Senate Finance Committee on February 6, 2013
Reported in the Senate on April 9, 2013
With the recommendation that the bill pass.
Substitute offered in the Senate on September 24, 2013
The substitute passed by voice vote in the Senate on September 24, 2013
Amendment offered by Sen. Jack Brandenburg R-Harrison Twp on May 14, 2014
To replace the previous version of the bill with one that adds additional detail changes to the MBT's treatment of various business transactions and events.
The amendment passed by voice vote in the Senate on May 14, 2014
To make changes clarifying the intent of a 2012 law revising the former Michigan Business Tax related to for amounts attributable to the taxpayer due to a discharge of indebtedness, and other factors.
Received in the House on May 14, 2014
Referred to the House Tax Policy Committee on May 14, 2014
Reported in the House on June 4, 2014
Without amendment and with the recommendation that the bill pass.
Substitute offered by Rep. Joseph Haveman R-Holland on September 9, 2014
To use the bill as a "vehicle" for the purpose described in the House-passed version, related to a recent Supreme Court ruling.
The substitute passed by voice vote in the House on September 9, 2014
Amendment offered by Rep. Joseph Haveman R-Holland on September 9, 2014
To clarify a statutory reference in the bill.
The amendment passed by voice vote in the House on September 9, 2014
To clarify the legislative intent of provisions in the Michigan Business Tax, so as to reverse the effect of a recent state Supreme Court ruling (IBM v. Treasury) that reportedly would force the state to refund more than $1 billion to many companies located out of the state. The case involved the interaction of a multistate Tax Compact the state entered in 2006 with provisions of the MBT, which was repealed in 2011 (but is still in effect for certain companies that received subsidies and tax breaks under its provisions). According to the Senate Fiscal Agency, the bill would also reduce the tax liability of certain firms going forward by a significant amount over the next 15 years.
Received in the Senate on September 10, 2014
Signed by Gov. Rick Snyder on September 11, 2014

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