Introduced
by
To authorize a credit against the Michigan Business Tax equal to 3.9 percent of employee compensation costs for research and development done at a hybrid automotive drive train research center in Troy established by GM, Chrysler and BMW, with a maximum annual credit of $3 million.
Referred to the Committee on Finance
Substitute offered
To replace the previous version of the bill with one that caps the credit at $2 million annually.
The substitute passed by voice vote
Passed in the Senate 36 to 1 (details)
To authorize a credit against the Michigan Business Tax equal to 3.9 percent of employee compensation costs for research and development done at a hybrid automotive drive train research center in Troy established by GM, Chrysler and BMW, with a maximum annual credit of $2 million.
Referred to the Committee on Tax Policy
Substitute offered
by
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 House 106 to 1 (details)
To authorize a credit against the Michigan Business Tax equal to 3.9 percent of employee compensation costs for research and development done at a hybrid automotive drive train research center in Troy established by GM, Chrysler and BMW, with a maximum annual credit of $2 million.
To concur with the House-passed version of the bill.
Passed in the Senate 32 to 1 (details)
