Introduced
by
To require an annual report that the Michigan Economic Growth Authority (MEGA) is required to submit to the legislature to include not just the amount of new capital investment and jobs promised by each business that enters into a tax break agreement with the Authority, but audited figures on the actual number of jobs and investments they produce, and the value of actual tax breaks granted. Currently the report is not required to state the actual results of government economic development officials granting these selective tax breaks to particular firms.
Referred to the Committee on Finance
Referred to the Committee of the Whole
With the recommendation that the bill pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To not require MEGA to provide a listing of the value of each tax break it grants to the particular firms it selects, but only to provide an aggreate total of all the tax breaks combined.
The amendment failed by voice vote
Amendment offered
by
To also require MEGA to report the amount of capital that each recipient of a certain "distressed business" tax break promises to invest in the state.
The amendment passed by voice vote
Amendment offered
by
To not require the annual MEGA report to be audited by the state Auditor General, but only to be "reviewed".
The amendment passed by voice vote
Passed in the Senate 36 to 0 (details)
To require an annual report from the Michigan Economic Growth Authority to the legislature to include not just the amount of new capital investment and jobs promised by each business that enters into a tax break agreement with the Authority, but the actual number of jobs and investments they produce, and the value of tax breaks actually granted. Currently the report is not required to state the actual results of government economic development officials granting these selective tax breaks to particular firms.
Referred to the Committee on Tax Policy
Referred to the Committee on New Economy and Quality of Life
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute failed by voice vote
Amendment offered
by
To also require the report to state the number of jobs and investments required by each tax break agreement to make a firm eligible to collect any tax credits. Also, to require the legislative Auditor General to review and comment on these reports when it does a "post-audit" of MEGA.
The amendment passed by voice vote
Passed in the House 103 to 0 (details)
To require an annual report from the Michigan Economic Growth Authority to include not just the amount of new capital investment and jobs promised by each business that enters into a tax break agreement with the Authority, but the actual number of jobs and investments they produce, and the value of tax breaks actually granted. Currently the report is not required to state the actual results of government economic development officials granting these selective tax breaks to particular firms.
Passed in the Senate 37 to 0 (details)
To concur with the House-passed version of the bill.
