Introduced
by
To expand and revise details of the refundable tax credits (cash subsidies) for “anchor” companies. In addition to other revisions, the bill would allow "anchor" companies to claim tax breaks on the basis of supplier or customer companies payrolls. This refers to a <a href="http://www.michiganvotes.org/2008-SB-1115">2008 law</a>“ granted “refundable” tax credits (cash subsidies) to certain high technology businesses designated as “anchor companies.” The credit is based on the payroll attributed to other companies that locate in Michigan because of the "anchor company's" high tech processes or products.
Referred to the Committee on Commerce and Tourism
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Amendment offered
by
To require the Michigan Economic Growth Authority to provide annual reports to the legislature containing certain details of the basis on which these subsidies are calculated.
The amendment passed by voice vote
Passed in the Senate 36 to 0 (details)
Referred to the Committee on Natural Resources, Tourism, and Outdoor Recreation
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 88 to 12 (details)
To expand and revise details of the refundable tax credits (cash subsidies) for “anchor” companies. In addition to other revisions, the bill would allow "anchor" companies to claim tax breaks on the basis of supplier or customer companies payrolls. This refers to a <a href="http://www.michiganvotes.org/2008-SB-1115">2008 law</a> that granted “refundable” tax credits (cash subsidies) to certain high technology businesses designated as “anchor companies.” The credit is based on the payroll attributed to other companies that locate in Michigan because of the "anchor company's" high tech processes or products.
