Introduced
by
To increase the size of certain brownfield development tax credits against the Michigan Busines Tax and make these "refundable," meaning that if the credit exceeds a firm's tax liability the state would send it a check for the difference (choosing this option rather than using the credit over several years would lower its value by 25 percent). The bill would increase the number of certain large brownfield credits offered each year; expand the eligibility criteria for certain kinds of projects; and modify the project review protocols of the Michigan Economic Growth Authority in a way that removes various hearing and review requirements.
Referred to the Committee on New Economy and Quality of Life
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 revises various details, but does not change its substance. This version was subsequently superseded by another substitute with more changes.
The substitute passed by voice vote
Passed in the House 78 to 26 (details)
Referred to the Committee on Economic Development and Regulatory Reform
Reported without amendment
With the recommendation that the bill 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)
To increase the size of certain brownfield development tax credits against the Michigan Busines Tax and make these "refundable," meaning that if the credit exceeds a firm's tax liability the state would send it a check for the difference (choosing this option rather than using the credit over several years would lower its value by 25 percent). The bill would increase the number of certain large brownfield credits offered each year; expand the eligibility criteria for certain kinds of projects; and modify the project review protocols of the Michigan Economic Growth Authority in a way that removes various hearing and review requirements.
To concur with the Senate-passed version of the bill.
Passed in the House 106 to 2 (details)
