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 House Bill 5459), 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 Finance
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 revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 36 to 1 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
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
Amendment offered
by
To clarify that the employment and investment level thresholds that the companies must maintain to qualify for the tax break refer to investments in this state.
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 House Bill 5459), 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)
