Introduced
by
To give a deadline extension to a particular developer who was granted a $10 million state income tax "credit" for a project in Detroit to be completed within a specified time period. Without this bill the developer would not get the tax credit, which also makes him eligible for an $8.5 million check from the state Treasury because 85% of this "credit" is "refundable," meaning it's payable in cash.
Referred to the Committee on Economic and Small Business Development
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 32 to 4 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 87 to 22 (details)
To give a deadline extension to a particular developer who was granted a $10 million state income tax "credit" for a project in Detroit to be completed within a specified time period. Without this bill the developer would not get the tax credit, which also make him eligible for an $8.5 million check from the state Treasury, because 85% of this "credit" is "refundable," meaning payable in cash.
