Introduced
by
To no longer grant certain cash subsidies to particular firms selected by state “economic development” officials. These particular cash subsidies are called “refundable tax credits,” but they also include actual cash payments in the amount that a selected company’s “credit” exceeds its Michigan Business Tax liability. The bill would also lower the cap on the amount of new selective tax break and subsidy deals that can be granted to particular firms. The bill is part of a “corporate welfare” package comprised of Senate Bills 1571 to 1574.
Referred to the Committee on Finance
