2007 House Bill 5151 / 2008 Public Act 221

Clarify mortgage company tax liability detail

Introduced in the House

Aug. 30, 2007

Introduced by Rep. Steve Bieda (D-25)

To clarify for purposes of establishing a mortgage company’s past Single Business Tax liability the sourcing its receipts for the sale or origination of loans secured by real property.

Referred to the Committee on Tax Policy

Sept. 5, 2007

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Oct. 3, 2007

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

Oct. 11, 2007

Passed in the House 108 to 0 (details)

Received in the Senate

Oct. 16, 2007

Referred to the Committee on Finance

Oct. 23, 2007

Reported without amendment

With the recommendation that the bill pass.

June 27, 2008

Passed in the Senate 37 to 0 (details)

To clarify for purposes of establishing a mortgage company’s past Single Business Tax liability the sourcing its receipts for the sale or origination of loans secured by real property.

Signed by Gov. Jennifer Granholm

July 15, 2008