Introduced by Sen. Valde Garcia (R) on September 15, 2004 To lower certain capital investment and facility size thresholds that qualify a company for Michigan Economic Growth Authority (MEGA) tax credits. These credits allow some firms selected by the government to pay less business taxes than firms that have not been selected. Many similar bills over the years have lowered these eligibility thresholds, or redefined them in such a way as to qualify a particular company for a credit. This particular revision is aimed at the Michigan Packaging company in Mason. Official Text and Analysis.
Referred to the Senate Economic Development, Small Business and Regulatory Reform Committee on September 15, 2004
Reported in the Senate on September 22, 2004 With the recommendation that the bill pass.
Substitute offered by Rep. Howard Walker (R) on September 29, 2004 To replace the previous version of the bill with one that also revised the population threshold for a county that establishes tax break eligibility for a "rural business".
The substitute passed by voice vote in the House on September 29, 2004