Introduced
by
To authorize the Michigan Economic Development Corporation to designate up to 20 tool and die recovery zones, which could essentially be the premises of selected existing tool and die businesses. Firms in a "zone" would be exempt from the Single Business Tax (SBT), the personal income tax, the six-mill state education tax, local personal and real property taxes, local income taxes and the utility users tax.
Referred to the Committee on Commerce
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that applies certain tool and die shop tax breaks to shops that lease their premises.
The substitute passed by voice vote
Passed in the House 102 to 4 (details)
To clarify that the tool and die "recovery zone" tax exemptions authorized by Senate Bill 825, now Public Act 266 of 2003, also apply to small tool and die shops that lease their premises, rather than own them.
Referred to the Committee on Commerce and Labor
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that also authorizes the Michigan Strategic Fund Board to revoke tax breaks granted to a tool and die businesse if it fails to comply with the conditions established in the required "qualified collaborative agreement".
The substitute passed by voice vote
Passed in the Senate 37 to 0 (details)
To clarify that the tool and die "recovery zone" tax exemptions authorized by Senate Bill 825, now Public Act 266 of 2003, also apply to small tool and die shops that lease their premises, rather than own them. The bill also authorizes the Michigan Strategic Fund Board to revoke tax breaks granted to a tool and die businesse if it fails to comply with the conditions established in the required "qualified collaborative agreement".
Passed in the House 102 to 3 (details)
To concur with the Senate-passed version of the bill, which also authorized revoking tax breaks granted to a firm that fails to comply with certain conditions.
