2006 Senate Bill 1516

Gov. Granholm’s “Michigan Business Tax”

Introduced in the Senate

Nov. 30, 2006

Introduced by Sen. Bob Emerson (D-27)

To amend the law authorizing plant rehabilitation and industrial development district tax breaks to conform to the new “Michigan Business Tax” proposed by Senate Bill 1513, which among other things replaces state property taxes on business tools and equipment (but not local taxes on these) with new business profits, assets and gross sales taxes.

Referred to the Committee on Finance