Introduced
by
To prohibit state “economic development” officials from amending or modifying corporate tax break and subsidy deals granted to certain businesses and developers under a Michigan Economic Growth Authority law (repealed in 201)1 in a way that increases state liabilities. Also, to cap the annual payout of these subsidies in any given year at $400 million. The bill was introduced after it was revealed that these deals have generated a unfunded liability of nearly $10 billion, and that officials continue to amend and modify them in ways that may increase the liability.
Referred to the Committee on Tax Policy
