Introduced
by
To revise the law authorizing tax breaks on certain industrial facilities so it reflect provisions of the new business tax proposed by Gov. Granholm (see Senate Bill 307 and House Bill 4368) to replace the revenue from the Single Business Tax (SBT), which expires at the end of 2007. The proposal would also exempt business tools and equipment (the “personal property tax”) from the 6-mill state education tax and the 18-mill school operating tax. This bill applies the personal property tax exemptions to the lower tax rate levied under the “plant rehabilitation” tax break law.
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 makes it part of the <a href="http://www.michiganvotes.org/RollCall.aspx?ID=232141">House Democrats' SBT replacement proposal</a>.
The substitute passed by voice vote
Passed in the House 109 to 0 (details)
To revise the law authorizing tax breaks on certain industrial facilities so it reflect provisions of the <a href="http://www.michiganvotes.org/RollCall.aspx?ID=232141">new business tax</a> proposed by House Democrats in House Bill 4367 to replace the revenue from the Single Business Tax (SBT), which expires at the end of 2007. The proposal would also exempt business tools and equipment (the “personal property tax”) from the 6-mill state education tax and the 18-mill school operating tax. This bill applies the personal property tax exemptions to the lower tax rate levied under the “plant rehabilitation” tax break law.
Referred to the Committee on Finance
Substitute offered
To replace the previous version of the bill with one that makes it part of the "Michigan Business Tax" proposal described in <a href="http://www.michiganvotes.org/2007-SB-94">Senate Bill 94</a>.
The substitute passed by voice vote
Passed in the Senate 36 to 0 (details)
To revise the law authorizing tax breaks on certain industrial facilities so it reflects provisions of the "Michigan Business Tax" proposal described in <a href="http://www.michiganvotes.org/2007-SB-94">Senate Bill 94</a> to replace the revenue from the repealed Single Business Tax. This bill applies the personal property tax exemptions contained in the new tax to the lower tax rate levied under the “plant rehabilitation” tax break law.
Passed in the House 109 to 0 (details)
