Introduced
by
To provide single business tax exemptions for companies that research, develop, or produce alternative energy technologies, and provide state subsidized incentives for investments in such technologies.
Referred to the Committee on Energy and Technology
Substitute offered
To replace the previous version of the bill with one which narrows and refines the bill to authorize two new single business tax (SBT) credits. The first would be for a “qualified business activity," meaning research, development, or manufacturing of an alternative energy vehicles, alternative energy marine propulsion systems, and alternative energy systems, or for "renewable fuels" including biodiesel or biomass. The second would be a refundable payroll credit for a "qualified alternative energy entity,” meaning a firm located in an alternative energy renaissance zone.
The substitute passed by voice vote
Passed in the House 103 to 1 (details)
To authorize two new single business tax (SBT) credits. The first would be for a “qualified business activity," meaning research, development, or manufacturing of an alternative energy vehicles, alternative energy marine propulsion systems, and alternative energy systems, or for "renewable fuels" including biodiesel or biomass. The second would be a refundable payroll credit for a "qualified alternative energy entity,” meaning a firm located in an alternative energy renaissance zone.
Substitute offered
by
To replace the previous version of the bill with one adding a provision to give an annual $10 million single business tax credit to the Pfizer/Pharmacia Corporation. This is in response to concerns that with the proposed purchase by Pfizer of the Pharmacia Corporation, some 8,500 Pharmacia jobs in Michigan might be eliminated or moved to other areas. This provision of the bill is drafted in such a way as to only apply to this company.
The substitute passed by voice vote
Passed in the House 97 to 7 (details)
To provide single business tax exemptions for companies that research, develop, or produce alternative energy technologies, and provide state subsidized incentives for investments in such technologies. The bill would also give an annual $10 million single business tax credit to the Pfizer/Pharmacia Corporation. This is in response to concerns that with the proposed purchase by Pfizer of the Pharmacia Corporation, some 8,500 Pharmacia Michigan in the Kalamazoo and Ann Arbor areas might be eliminated or moved to other areas. This provision of the bill is drafted in such a way as to only apply to this company.
Passed in the Senate 33 to 2 (details)
To replace the previous version of the bill with one adding a provision giving an annual $10 million single business tax credit to the Pfizer/Pharmacia Corporation. This is in response to concerns that with the proposed purchase by Pfizer of the Pharmacia Corporation, some 8,500 Pharmacia Michigan in the Kalamazoo and Ann Arbor areas might be eliminated or moved to other areas. This provision of the bill is drafted in such a way as to only apply to this company.
