Legislation watch
Mackinac Center for Public Policy
Capitol Building

2012 Senate Bill 985: Authorize $900 million state borrowing from insurance companies
  1. Introduced by Sen. Mike Kowall (R) on February 29, 2012, to grant a 10 percent tax break to insurance companies that “pre-pay” future years’ state business tax. This bill and Senate Bills 986 and 987 appear to authorize $900 million in state government borrowing from insurance companies, arranged in the form of a discounted corporate tax prepayment.
    • Referred to the Senate Finance Committee on February 29, 2012.

Comments