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2012 House Bill 5246: Expand corporate research subsidies

Public Act 290 of 2012

Introduced by Rep. Wayne Schmidt (R) on January 17, 2012 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.   Official Text and Analysis.
Referred to the House Commerce Committee on January 17, 2012
Reported in the House on May 24, 2012 With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered in the House on June 7, 2012
The substitute passed by voice vote in the House on June 7, 2012
Amendment offered by Rep. Mike Shirkey (R) on June 7, 2012 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 in the House on June 7, 2012
Passed 87 to 20 in the House on June 7, 2012 (same description)
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 Senate on June 12, 2012
Referred to the Senate Economic Development Committee on June 12, 2012
Reported in the Senate on June 14, 2012 With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on June 14, 2012
The substitute passed by voice vote in the Senate on June 14, 2012
Passed 28 to 8 in the Senate on June 14, 2012 (same description)
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 on June 14, 2012
Amendment offered by Rep. Mike Shirkey (R) on July 18, 2012 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 in the House on July 18, 2012
Passed 86 to 23 in the House on July 18, 2012 To concur with the Senate-passed version of the bill, with one amendment.
Received in the Senate on July 18, 2012
Passed 26 to 10 in the Senate on July 18, 2012 To concur with the House-passed version of the bill.
Signed by Gov. Rick Snyder on August 1, 2012

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