Introduced
by
To reduce another eligibility standard in selective tax breaks granted by the Michigan Economic Growth Authority (MEGA), this one requiring at least 25 percent of the total operating expenses of certain “high technology” businesses to be for research and development for the first three years of their tax break deals.
Referred to the Committee on New Economy and Quality of Life
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 also increases the number of selective tax breaks that can be granted by the Michigan Economic Growth Authority (MEGA) each year.
The substitute passed by voice vote
Amendment offered
by
To establish that if it is discovered that a company lied on its MEGA tax break application it must not just pay back the tax breaks, but also pay a penalty equal to 50 percent of their value.
The amendment passed by voice vote
Amendment offered
by
To prohibit MEGA tax breaks for a firm likely to compete with any existing Michigan-based business (which is not the beneficiary of a special tax break). The amendment would require make granting MEGA tax breaks contingent on an analysis that shows this non-competition status.
The amendment failed by voice vote
Amendment offered
by
To require that a cost/benefit analysis required as a condition of awarding a MEGA tax break to a particular firm must be promptly made available to the public for inspection. The required cost/benefit analysis must "reveal that authorizing the . . . tax credits will result in an overall positive fiscal impact to the state".
The amendment failed by voice vote
Amendment offered
by
To tie-bar the bill to Senate Bill 71, meaning this bill cannot become law unless that one does also. SB 71 would require the Michigan Economic Growth Authority to file annual reports that disclose not just aggregate data on the tax break deals offered to particular firms it selects, but also disclose the amount of capital investment and jobs that each individual beneficiary firm must "create or retain” to earn a tax break reward, and the amount of jobs, investments and tax credits rewards actually generated by each current and past beneficiary.
The amendment failed by voice vote
Passed in the House 92 to 15 (details)
To increase the number of selective tax breaks that can be granted by the Michigan Economic Growth Authority (MEGA) in 2009, cap the number in future years, and reduce the eligibility standards for certain tax breaks.
Referred to the Committee on Finance
Motion
by
To discharge the Finance Committee from further consideration of the bill, and bring it directly to the full Senate for a vote.
The motion failed 16 to 19 (details)
Substitute offered
by
To replace the previous version of the bill with one that revises the proposed caps and eligibility standards.
The substitute passed by voice vote
Passed in the Senate 32 to 3 (details)
To increase the number of selective tax breaks that can be granted by the Michigan Economic Growth Authority (MEGA) in 2009, cap the number in future years, and reduce the eligibility standards for certain tax breaks.
Amendment offered
by
To require members of the board of the Michigan Economic Growth Authority (which selects particular companies to be beneficiaries of targeted state tax breaks and subsidies) to disclose their own personal financial investment decisions made during the past five years.
The amendment failed by voice vote
Amendment offered
by
To strip out a provision making an exception to the MEGA tax break eligibility criteria inserted by the Senate to benefit the Federal Mogul company.
The amendment passed by voice vote
Amendment offered
by
To clarify that the cap on "yearly tax credits" applies to future tax breaks.
The amendment passed by voice vote
Passed in the House 93 to 11 (details)
To increase the number of selective tax breaks that can be granted by the Michigan Economic Growth Authority (MEGA) in 2009 and cap the number in future years. The House removed a provision added by the Senate carving out a special break for the Federal Mogul company.
Passed in the Senate 30 to 4 (details)
To concur with the House-passed version of the bill, which removed a special tax break eligibility exemption for the Federal Mogul company.
