Introduced by Sen. Tom Casperson R-Escanaba on October 2, 2013
To revise various details of the law authorizing the extensive tax exemptions of a “renaissance zone" to better accommodate “Next Michigan Development Corporations,” authorized by a 2010 law to give tax breaks and subsidies to particular corporations or developers for projects meeting extremely broad "multi-modal commerce" criteria (basically, any form of goods-related commerce). In addition to allowing more businesses to receive these benefits, the bill would make changes intended to facilitate actually generating eligible “multi-modal” projects, which apparently have not come about since that 2010 law was passed. The bill is also related to Senate Bill 397, which would authorize creation of a sixth “Next Michigan Development Corporation” to be located in the Upper Peninsula. Official Text and Analysis.
Referred to the Senate Economic Development Committee on October 2, 2013
Reported in the Senate on October 24, 2013
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on October 30, 2013
The substitute passed by voice vote in the Senate on October 30, 2013