Introduced
by
To give DaimlerChrysler a Single Business Tax credit as compensation for the taxes the company was overcharged and paid to the bankrupt City of Highland Park. The city owes the automaker the overpaid taxes, but does not have the money, and meanwhile interest on the balance is accumulating. The bill would have the effect of transferring the city's liability to the state, which would discharge it through an SBT tax break equal to half the balance owed to the company. DaimlerChrysler would then agree to forgive the balance.
Referred to the Committee on Tax Policy
