Introduced
by
To revise details of how state income tax deductions for business interest expense are treated, to reflect changes made by the 2017 federal tax cut law. The Senate Fiscal Agency estimates that the bill would reduce future Michigan business tax payments by around $100 million annually.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 27 to 10 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 62 to 45 (details)
To revise details of how state income tax deductions for business interest expense are treated, to reflect changes made by the 2017 federal tax cut law. The Senate Fiscal Agency estimates that the bill would reduce future Michigan business tax payments by around $100 million annually.
