Introduced
by
To authorize an income tax deduction for the gain on an investment of more than $25,000 in a production company that shoots a film or TV show in Michigan, if a portion of the principle and gain (if any) is reinvested within two years in another film studio shooting in Michigan. Also, to lower the size of the required investment and extend the time for a required reinvestment in <a href="http://www.michiganvotes.org/2005-SB-533">2006 law</a> that authorizes similar tax breaks for investments in certain “competitive edge” technologies selected by the legislature.
Referred to the Committee on Commerce
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 details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 108 to 0 (details)
Referred to the Committee on Commerce and Tourism
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
by
To revise the <a href="http://www.michiganvotes.org/2005-SB-533">2006 law</a> that authorizes income tax breaks for investments in certain “competitive edge” technologies selected by the legislature by removing the specific definition of what constitutes such a venture.
The amendment passed by voice vote
Passed in the Senate 21 to 16 (details)
To authorize an income tax deduction for the gain on an investment of more than $25,000 in a production company that shoots a film or TV show in Michigan, if a portion of the principle and gain (if any) is reinvested within two years in another film studio shooting in Michigan. Also, to lower the size of the required investment and extend the time for a required reinvestment in <a href="http://www.michiganvotes.org/2005-SB-533">2006 law</a> that authorizes similar tax breaks for investments in certain “competitive edge” technologies selected by the legislature.
