2007 Senate Bill 568

Expand certain business subsidy tax credit eligibility

Introduced in the Senate

June 6, 2007

Introduced by Sen. Wayne Kuipers (R-30)

To lower from $100,000 to $25,000 the size of an initial investment in an "advanced automotive, manufacturing, and materials technology" that qualifies for an income tax credit under a provision of a “<a href="http://www.michiganvotes.org/2005-SB-521">community-based seed capital fund</a>” related to the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program, and also extend by one year the deadline for making such an investment.

Referred to the Committee on Economic Development and Regulatory Reform

Jan. 24, 2008

Reported without amendment

With the recommendation that the substitute (S-2) be adopted and that the bill then 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

Jan. 29, 2008

Passed in the Senate 37 to 0 (details)

Received in the House

Jan. 30, 2008

Referred to the Committee on Commerce