Introduced
by
To clarify the terms of a Michigan Business Tax credit previously granted to the owner of the Palace sports stadium in Auburn Hills, and potentially also to the owner of the Detroit Red Wings and Tigers stadiums (the Ilitch family). The measure gives the owners a 65 percent reduction in their business tax liability for 2008 through 2010 (up to $1.7 million annually), a 45 percent tax break in 2011 (up to $1.18 million), and a 25 percent tax break in 2012 (up to $650,000).
Referred to the Committee on Finance
Passed in the Senate 38 to 0 (details)
Referred to the Committee on Tax Policy
Substitute offered
To replace the previous version of the bill with one that tie-bars it to House Bill 5463, meaning that it cannot pass unless that bill also passes. HB 5463 would prohibit the tax break if a stadium has been the beneficiary of other specific government spending or targeted tax breaks.
The substitute passed by voice vote
Passed in the House 92 to 13 (details)
To clarify the terms of a Michigan Business Tax credit previously granted to the owner of the Palace sports stadium in Auburn Hills, and potentially also to the owner of the Detroit Red Wings and Tigers stadiums (the Ilitch family). The measure gives the owners a 65 percent reduction in their business tax liability for 2008 through 2010 (up to $1.7 million annually), a 45 percent tax break in 2011 (up to $1.18 million), and a 25 percent tax break in 2012 (up to $650,000).
Passed in the Senate 37 to 0 (details)
To concur with the House-passed version of the bill.
