Introduced
by
To authorize a temporary refundable Single Business Tax credit equal to 15 percent of the property taxes paid by businesses to the state and local governments on industrial (but not commercial) tools and equipment ("personal property tax"), in 2009 only. House Bills 4892, 5461 and Senate Bill 909 offer the same tax break in 2006, 2007 and 2008.
Referred to the Committee on Tax Policy
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 revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Substitute offered
by
To only apply the credit to personal property taxes levied after 2005.
The substitute failed by voice vote
Amendment offered
by
To not give the tax credit to firms that are based in a "tax haven" country, or are located here "for the purpose of inducing the enterprise to locate outside" Michigan or the U.S., or that "contribute to the violation of internationally recognized workers rights" of workers in other countries (including "acceptable" miniumum wages and occupational health and safety regulations), and more.
The amendment failed 46 to 55 (details)
Amendment offered
by
To prohibit allowing a firm to claim the tax credit unless it files annual reports to the legislature with details regarding changes in its Michigan employment levels.
The amendment failed 45 to 57 (details)
Amendment offered
by
To prohibit allowing a firm to claim the tax credit if it has violated certain federal pension law regulations.
The amendment failed 50 to 42 (details)
Amendment offered
by
To repeal tie-bars contained in a recently passed-and-vetoed business tax cut package, which would allow a provision to go into effect which would base the apportionment formula under which the Single Business Tax is levied on firms with business inside and outside Michigan 95 percent on sales, reducing the weight of property and payroll factors in the formula. See House Bill 4973.
The amendment failed 45 to 57 (details)
Passed in the House 98 to 4 (details)
Referred to the Committee of the Whole
Amendment offered
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 Senate 35 to 2 (details)
To authorize a temporary refundable Single Business Tax credit equal to 15 percent of the property taxes paid by businesses to the state and local governments on industrial (but not commercial) tools and equipment ("personal property tax"), in 2009 only. House Bills 4892, 5461 and Senate Bill 909 offer the same tax break in 2006, 2007 and 2008.
Passed in the House 106 to 2 (details)
To concur with the Senate-passed version of the bill.
