2005 House Bill 4971 / 2006 Public Act 323

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Introduced in the House

June 16, 2005

Introduced by Rep. Fulton Sheen (R-88)

To establish a Single Business Tax research and development compensation credit. This is part of a package comprised of House Bills 4969 to 4974, which contain the tax cut portions of <a href="http://www.michiganvotes.org/2005-HB-4476">Gov. Jennifer Granholm’s SBT revision proposal</a>, but not the tax increases that make the governor’s proposal revenue-neutral.

Referred to the Committee on Tax Policy

June 21, 2006

Substitute offered by Rep. David Law (R-39)

To replace the previous version with one that does not contain the bill's original provisions, but instead uses it as a legislative "vehicle" to give a Single Business Tax break to a new Hybrid Development Center located in Troy.

The substitute passed by voice vote

Amendment offered by Rep. David Law (R-39)

To clarify the scope of the bill.

The amendment passed by voice vote

Passed in the House 104 to 0 (details)

To give a Single Business Tax break to a new Hybrid Development Center located in Troy. The center is a joint venture between General Motors, DaimlerChrysler, and BMW to develop a two-mode vehicle hybrid drive system.

Received in the Senate

June 22, 2006

Referred to the Committee on Finance

June 28, 2006

Passed in the Senate 37 to 0 (details)

Signed by Gov. Jennifer Granholm

July 20, 2006