2012 House Bill 5246 / Public Act 290

Expand corporate research subsidies

Introduced in the House

Jan. 17, 2012

Introduced by Rep. Wayne Schmidt (R-104)

To authorize two additional “certified technology parks” ("smart zones"), in which revenues "captured" from other local governments using “tax increment financing” schemes is used to pay the debt service on money borrowed by a government authority to benefit particular "large corporate research" operations.

Referred to the Committee on Commerce

May 24, 2012

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

June 7, 2012

Substitute offered

The substitute passed by voice vote

Amendment offered by Rep. Mike Shirkey (R-65)

To require the foregone local government and school taxes "captured" by these "smart zones" to be reimbursed out of the budget of the Michigan Strategic fund.

The amendment passed by voice vote

Passed in the House 87 to 20 (details)

Received in the Senate

June 12, 2012

Referred to the Committee on Economic Development

June 14, 2012

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Substitute offered

The substitute passed by voice vote

Passed in the Senate 28 to 8 (details)

To authorize two additional “certified technology parks” ("smart zones"), in which revenues "captured" from other local governments using “tax increment financing” schemes is used to pay the debt service on money borrowed by a government authority to benefit particular "large corporate research" operations.

Received in the House

June 14, 2012

July 18, 2012

Amendment offered by Rep. Mike Shirkey (R-65)

To establish as the "intent of the legislature" than these will be the last of this particular type of subsidy. Note: The provision is not binding.

The amendment passed by voice vote

Passed in the House 86 to 23 (details)

To concur with the Senate-passed version of the bill, with one amendment.

Received in the Senate

July 18, 2012

Passed in the Senate 26 to 10 (details)

To concur with the House-passed version of the bill.

Signed by Gov. Rick Snyder

Aug. 1, 2012