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2021 House Bill 5426: Authorize $300 million more in state business owner subsidies
Introduced by Rep. Mark Tisdel R-Rochester Hills on October 20, 2021
To establish a new business subsidy regime that would give up to $300 million in taxpayer-funded cash subsidies to business owners who propose a new or enlarged non-retail facility they claim will create a specified number of jobs depending on its location. The developers or owners would essentially get to “pocket” the state income tax payments they withhold from the employees’ paychecks, rather than turning them over to the state. Officials in the state agency in charge of delivering corporate and developer subsidies could select up 40 corporate beneficiaries each year through 2026.   Official Text and Analysis.
Referred to the House Commerce and Tourism Committee on October 20, 2021