Introduced
by
To create a commission selected by legislative leaders of both the majority and minority parties (and which must contain one member associated with the “Upjohn Institute” to evaluate and determine whether each item on a list of so-called “<a href=" http://www.michigan.gov/documents/treasury/ExecBudgAppenTaxCreditsDedExempts_FY_2012_366688_7.pdf ">tax expenditures</a>” is “generating a good return on investment.” This $33 billion list mostly consists of potential expansions of various taxes paid by individuals (examples include repeal of the 18 mill principle residence property tax exemption, the state income tax personal exemption, and the sales tax on food exemption), but also contains selective “corporate welfare” type tax breaks given only to certain firms or industries (which are often cash subsidies styled as “refundable tax credits”). See Senate Bill 223, which would use savings presumably realized from eliminating $1.8 billion of these “expenditures” to give college scholarships to all Michigan high school graduates.
Referred to the Committee on Tax Policy
