Senate Roll Call 203 on2019 House Bill 4190: Limit corporate subsidy deal modifications
View the rest of House Bill 4190: History, Amendments & Comments
To prohibit state economic development officials from modifying one of the agreements entered with a relative handful of large companies mostly in the late 2000s that granted them up to $9 billion worth of state taxpayer subsidies (styled as “refundable business tax credits”) over a 20 year period. Specifically, the agreements could not be changed in a way that increases the payouts or extends them. However, the bill makes an exception for subsidies granted to Federal Mogul company in the 2000s, so that the company that bought the firm in 2018 (Tenneco) can collect additional subsidies on a Michigan facility said to be worth around $12 million, on top of some $60 million already given to the owners of this facility over the years.
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Senate Roll Call 203 on 2019 House Bill 4190