Introduced
by
To authorize a temporary Single Business Tax credit against the property taxes paid on tools and equipment brought into Michigan if they are used directly by workers transferred here from other states or countries to perform “manufacturing” or “high technology activity,” and if these workers receive comprehensive health insurance fringe benefits. The tax credit would only be in effect in 2007, 2008 and 2009 (see Senate Bill 910), but would only apply to one of those years for any given company, and if a company did not maintain the higher employment levels for the following three years it would have to give back all or a portion of the credit in higher SBT taxes. The bill was introduced after the Delphi Corporation declared bankruptcy and announced likely plant closings.
Referred to the Committee on Tax Policy
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 revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To not allow a company to claim the tax credit unless it retains all the transferred employees and maintains the same overall employment levels in Michigan for the following three years, unless any job loss is the direct result of a decline in sales (instead of transfers, restructuring, or productivity increases).
The amendment failed 45 to 58 (details)
Passed in the House 94 to 9 (details)
Referred to the Committee of the Whole
Substitute offered
To replace the previous version of the bill with one that only requires the company to maintain the same amount of jobs, not to increase them.
The substitute passed by voice vote
Passed in the Senate 35 to 2 (details)
To authorize a temporary Single Business Tax credit against the property taxes paid on tools and equipment brought into Michigan if they are used directly by workers transferred here from other states or countries to perform “manufacturing” or “high technology activity,” and if these workers receive comprehensive health insurance fringe benefits. The tax credit would only be in effect in 2007, 2008 and 2009 (see Senate Bill 910), but would only apply to one of those years for any given company, and if a company did not maintain steady employment levels for the following three years it would have to give back all or a portion of the credit in higher SBT taxes. The bill was introduced after the Delphi Corporation declared bankruptcy and announced likely plant closings.
Amendment offered
by
To give the Department of Treasury discretion regarding how to handle the accounting for tax credits end up being refunded (because the taxpayer did not owe SBT for the year of the credit.
The amendment passed by voice vote
Passed in the House 106 to 2 (details)
To authorize a temporary Single Business Tax credit against the property taxes paid on tools and equipment brought into Michigan if they are used directly by workers transferred here from other states or countries to perform “manufacturing” or “high technology activity,” and if these workers receive comprehensive health insurance fringe benefits. The tax credit would only be in effect in 2007, 2008 and 2009 (see Senate Bill 910), but would only apply to one of those years for any given company, and if a company did not maintain steady employment levels for the following three years it would have to give back all or a portion of the credit in higher SBT taxes. The bill was introduced after the Delphi Corporation declared bankruptcy and announced likely plant closings.
To concur with the House-passed version of the bill.
Passed in the Senate 37 to 0 (details)
