Introduced
by
To initially limit the generousness and then cancel a certain device used by state “economic development” officials to grant cash subsidies to certain developers and the owners of particular corporations they select. The device is to grant “refundable” tax credits against a former “Michigan business tax” that was repealed for all purposes except granting these subsidies to these special interests. The bill would cap the handouts at $200 million in the 2021-22 fiscal year, $100 million the following year and <i>zero</i> thereafter. “Refundable” means the state actually writes checks to these companies for doing business here.
Referred to the Committee on Tax Policy
