Introduced
by
To reduce the <a href="http://www.michiganvotes.org/2007-HB-5408">21.99 percent Michigan Business Tax surcharge</a> (imposed on businesses as part of a $1.4 billion tax hike passed in 2007 to avoid government spending reductions) to 11 percent in 2009, and end it after that, except for financial institutions.
Referred to the Committee on Finance
Referred to the Committee of the Whole
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
Amendment offered
by
To tie-bar the bill to Senate Bills 29-31, meaning this bill cannot become law unless that one does also. Those bills would prohibit enforcement of residential mortgage loan contracts for two years, and authorize state borrowing for delinquent mortgage loan guarantees.
The amendment failed 16 to 20 (details)
Passed in the Senate 25 to 11 (details)
To reduce the <a href="http://www.michiganvotes.org/2007-HB-5408">21.99 percent Michigan Business Tax surcharge</a> (imposed on businesses as part of a $1.4 billion tax hike passed in 2007 to avoid government spending reductions) to 11 percent in 2009, and end it after that, except for financial institutions.
Referred to the Committee on Tax Policy
