2009 Senate Bill 558

Revise “low-profit limited liability companies” detail

Introduced in the Senate

May 7, 2009

Introduced by Sen. Jason Allen (R-37)

To revise the annual report filing deadline for the “low-profit limited liability companies” authorized by a <a href="http://www.michiganvotes.org/2008-SB-1445">2008 law</a>, which are entities formed to accomplish a charitable or educational purpose and for which the production of income or capital gains are not a “significant purpose,” but may occur.

Referred to the Committee on Commerce and Tourism