Introduced
by
To revise the “local development financing act” which authorizes certain targeted tax breaks to be granted by local governments, so as to shift decision-making authority for certain required state approvals from the Michigan Economic Development Corporations to the Michigan Strategic Fund, which is another arm of the state’s selective tax-break granting bureaucracy.
Referred to the Committee on Commerce and Tourism
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that allows a “local development financing act” to change its purpose to provide direct and indirect subsidies to the owners of businesses in the alternative energy field, and to use its "captured" tax revenue for such subsidies.
The substitute passed by voice vote
Passed in the Senate 35 to 0 (details)
To allow a “local development financing act” to change its purpose to provide direct and indirect subsidies to the owners of businesses in the alternative energy field, and to use its "captured" tax revenue for such subsidies.
Referred to the Committee on New Economy and Quality of Life
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 100 to 5 (details)
To allow a “local development financing act” to change its purpose to provide direct and indirect subsidies to the owners of businesses in the alternative energy field, and to use its "captured" tax revenue for such subsidies.
