2011 House Bill 4362 ↩

Senate Roll Call 174: Passed

To “grandfather” a range of the special business tax breaks and subsidies that have been granted to particular firms under a number of “targeted” exemptions and “credits” (some of which are actually cash payments). The bill is a part package to enact Gov. Rick Snyder’s proposal to convert the Michigan Business Tax into a 6 percent corporate income tax (see House Bill 4361). The “grandfathering” would only apply to firms that have already become eligible for a particular tax break or subsidy, or have a written agreement with the state granting one.