Introduced
by
To expand the taxes to which Michigan Business Tax “carryforwards” can be applied, to include taxes paid on the sale of a property on which a firm had previously been granted a “historic preservation” tax credit. “Carryforwards” happen when a firm is granted a non-refundable tax break larger than its total tax liability for one year, and is allowed to “carry forward” the unused portion of the credit to offset future tax year taxes.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed in the House 107 to 0 (details)
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
