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2012 Senate Bill 1037: Revise MBT detail

Public Act 605 of 2012

Introduced by Sen. Jack Brandenburg R-Harrison Twp on March 22, 2012
To revise details of the former Michigan Business Tax – which some firms benefitting from selective state tax break/subsidy deals still file under – related to provisions on credits, gross receipts, tax base, income, and apportionment. In general, the bill would reduce the tax liability of certain firms.   Official Text and Analysis.
Referred to the Senate Finance Committee on March 22, 2012
Reported in the Senate on May 29, 2012
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on July 18, 2012
The substitute passed by voice vote in the Senate on July 18, 2012
Received in the House on July 18, 2012
Referred to the House Tax Policy Committee on July 18, 2012
Reported in the House on September 19, 2012
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered in the House on December 11, 2012
The substitute passed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Jud Gilbert R-Algonac on December 11, 2012
To remove a provision adding "discharges of debt" to the definition of gross income used in the former MBT's tax liability formula.
The amendment passed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Kevin Cotter R-Mt. Pleasant on December 11, 2012
To allow a particular company to sell or "assign" a selective MBT tax break to another firm with MBT liability, in effect converting the first firm's tax break into a form of indirect grant.
The amendment passed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Tim Greimel D-Pontiac on December 11, 2012
To tie-bar the bill to House Bill 4461, meaning this bill cannot become law unless that one does also. HB 4461 would require politicians to file personal financial disclosure statements.
The amendment failed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Richard Hammel D-Flushing on December 11, 2012
To link this bill to House Bill 4520, which would allow no-reason absentee voting.
The amendment failed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Richard Hammel D-Flushing on December 11, 2012
To link this bill to House Bill 5361 which would establish comprehensive ethics standards and conflict of interest regulations for executive branch officials and employees.
The amendment failed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Tim Greimel D-Pontiac on December 11, 2012
To link this bill to House Bill 5360 which would prohibit legislators and statewide officeholders from applying for or receiving during his or her term a grant from the state that is unrelated to holding.
The amendment failed by voice vote in the House on December 11, 2012
Amendment offered by Rep. Jud Gilbert R-Algonac on December 11, 2012
To revise an MBT detail related to "property stored in transit" and purchases to be picked up at the seller's location.
The amendment passed by voice vote in the House on December 11, 2012
Received in the Senate on December 13, 2012
To concur with the House-passed version of the bill.
Signed by Gov. Rick Snyder on January 8, 2013