Introduced
by
To require the Department of Treasury to prepare and post on the Internet a list of every tax credit available under the Michigan Business Tax, and to submit to the legislature a report showing the number of taxpayers who claimed certain types of credit, including their names and addresses. Also, to require the department to report its assessment of the “effectiveness” of certain types of tax credit. “Effectiveness” is not defined in the bill.
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 defines a targeted tax break's "effectiveness" by its record "in attracting more business to this State and creating more jobs;" and which also requires the report to show the amount of money spent by each targeted tax break recipient to comply with the terms of it's tax break deal, and the amount of people employed in Michigan by all the recipients of these various tax breaks.
The substitute passed by voice vote
Passed in the Senate 22 to 14 (details)
To require the Department of Treasury to post on the Internet a list of every tax credit available under the Michigan Business Tax, and to submit to the legislature a report showing the number of taxpayers that applied for certain Michigan Business Tax credits, broken down by business sector and firm size, but in a manner that does not identify individual taxpayer. Also, to require the department to report its assessment of the “effectiveness” of these credits, measured in terms of its record of attracting more business and jobs.
Referred to the Committee on Tax Policy
