Introduced
by
To authorize a Single Business Tax (SBT) credit equal to one percent of the compensation paid to new employees by a business with gross receipts less than $10 million, if the workforce expansion meets certain criteria specified in the bill. This is essentially the same bill as Senate Bill 1093, which was vetoed by Gov. Jennifer Granholm on May 18, 2004, except that this bill only applies to the 2005 tax year.
Referred to the Committee on Economic Development, Small Business, and Regulatory Reform
Reported without amendment
With the recommendation that the bill pass.
Substitute offered
To replace the previous version of the bill with one that would offer tax credits on a sliding scale from .5 percent to 2.0 percent of the new employee compensation, depending on the amount of capital investment also being made by the employer.
The substitute passed by voice vote
Amendment offered
by
To establish that the capital investment required to trigger the tax break must be at the plant where the new employee works.
The amendment passed by voice vote
Passed in the Senate 35 to 0 (details)
To authorize a Single Business Tax (SBT) credit based on the capital investments and the compensation paid to new employees by a business with gross receipts less than $10 million, if the workforce expansion meets certain criteria specified in the bill. The tax credit would be from .5 percent to 2.0 percent of a new employee's compensation, depending on the amount of capital investment also being made by the employer.
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.
Substitute offered
To replace the previous version of the bill with one that incorporates technical changes, and which also expands a prohibition on granting the tax credit if the new employees are the "taxpayer's" relatives, to also include relatives of corporate officers or active shareholders.
The substitute passed by voice vote
Substitute offered
by
To replace the previous version of the bill with one containing technical changes that do not affect its substance as previously described.
The substitute passed by voice vote
Passed in the House 101 to 0 (details)
To authorize a Single Business Tax (SBT) credit based on the capital investments and the compensation paid to new employees by a business with gross receipts less than $10 million, if the workforce expansion meets certain criteria specified in the bill. The tax credit would be from .5 percent to 2.0 percent of a new employee's compensation, depending on the amount of capital investment also being made by the employer.
To concur with the House-passed version of the bill.
Passed in the Senate 37 to 0 (details)
