A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding section 714.
House Bills 5292 through 5297 collectively overhaul Michigan’s economic development and fiscal framework by phasing out legacy business tax credits and repealing the Michigan Business Tax, creating a targeted high-wage job credit, restructuring state trust funds, tightening Administrative Board oversight, reallocating income tax revenues to boost neighborhood road funding and community development, and expanding transparency and reporting requirements for economic development programs, all contingent on related legislation.
Introduced
by
Referred to the Committee on Finance
