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 Finance
