2021 House Bill 4712 / Public Act 93

Retroactively authorize higher cash subsidies for particular developer

Introduced in the House

April 22, 2021

Introduced by Rep. Ryan Berman (R-39)

To retroactively make a particular developer’s project eligible for increased “refundable” state business tax credits under a suspended program that authorized actual cash payments from the state treasury to a relative handful of companies and developers approved by state officials. The bill would allow the particular developer to "shuffle" the credits/subsidies he was granted between two separate projects in a way that maximizes how much is collected.

Referred to the Committee on Tax Policy

June 23, 2021

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Aug. 17, 2021

Substitute offered by Rep. Ryan Berman (R-39)

To replace the previous version of the bill with one that revises details but does not change the substance as previously described.

The substitute passed by voice vote

Passed in the House 87 to 21 (details)

To retroactively make a particular developer’s project eligible for increased “refundable” state business tax credits under a suspended program that authorized actual cash payments from the state treasury to a relative handful of companies and developers approved by state officials. The bill would allow the particular developer to "shuffle" the credits/subsidies he was granted between two separate projects in a way that maximizes how much is collected.<br> The bill would also increase the total subsidies the developer will receive, and allow another five years to complete the project. The House Fiscal Agency estimates this will result in a $12.8 million increase in either foregone state revenue, or in actual cash disbursements to this developer.

Received in the Senate

Aug. 25, 2021

Referred to the Committee on Economic and Small Business Development

Oct. 5, 2021

Reported without amendment

With the recommendation that the bill pass.

Oct. 13, 2021

Passed in the Senate 29 to 7 (details)

To retroactively make a particular developer’s project eligible for increased “refundable” state business tax credits under a suspended program that authorized actual cash payments from the state treasury to a relative handful of companies and developers approved by state officials. The bill would allow the particular developer to "shuffle" the credits/subsidies he was granted between two separate projects in a way that maximizes how much is collected.<br> The bill would also increase the total subsidies the developer will receive, and allow another five years to complete the project. The House Fiscal Agency estimates this will result in a $12.8 million increase in either foregone state revenue, or in actual cash disbursements to this developer.

Signed by Gov. Gretchen Whitmer

Oct. 29, 2021