Introduced
by
To authorize a new way of giving state subsidies to certain developers and business owners selected by political appointees on local brownfield authority boards and the state Strategic Fund board. This would use the device of “abating” a particular firm's income tax withholding to give virtual cash subsidies to select business owners. This would reduce state revenue available for other purposes.
Referred to the Committee on Economic Development and International Investment
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 29 to 8 (details)
To authorize a new way of giving state subsidies to certain developers and business owners selected by political appointees on local brownfield authority boards and the state Strategic Fund board. This would use the device of “abating” a particular firm's income tax withholding to give virtual cash subsidies to select business owners. This would reduce state revenue available for other purposes. See also Senate Bills 1153 and 1154, which are reportedly intended to deliver even larger subsidies to Detroit developer Dan Gilbert and possibly others around the state.
Referred to the Committee on Local Government and Municipal Finance
