Introduced
by
To authorize Michigan Business Tax credits for high tech "anchor companies" equal to 5 percent of the taxable value of property owned by other companies that locate near the "anchor" because of its high tech processes or products. "Anchor company" is defined as a “high-technology business that . . . that has the ability or potential ability to influence business decisions and site location of suppliers and customers.” Only five firms would be granted these tax break each year. "Refundable" means that if the credit exceeded the firm's tax liability the state would send it a check.
Referred to the Committee on New Economy and Quality of Life
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 106 to 1 (details)
Referred to the Committee on Commerce and Tourism
Reported without amendment
With the recommendation that the substitute (S-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 Senate 36 to 1 (details)
To authorize Michigan Business Tax credits for high tech "anchor companies" equal to 5 percent of the taxable value of property owned by other companies that locate near the "anchor" because of its high tech processes or products. "Anchor company" is defined as a “high-technology business that . . . that has the ability or potential ability to influence business decisions and site location of suppliers and customers.” Only five firms would be granted these tax break each year. "Refundable" means that if the credit exceeded the firm's tax liability the state would send it a check.
To concur with the Senate-passed version of the bill.
Passed in the House 107 to 1 (details)
