A bill to amend 1984 PA 270, entitled “Michigan strategic fund act,” by amending sections 9, 90g, and 90h (MCL 125.2009, 125.2090g, and 125.2090h), section 9 as amended by 2021 PA 136 and sections 90g and 90h as added by 2017 PA 109.
House Bills 5413-15 would allow select businesses to collect the income tax withheld from their employees’ paychecks. The companies that receive deals can keep collecting taxes for up-to ten years. This legislation authorizes up to $2.875 billion in deals to be awarded. The program had been in operation from 2017 to 2019 (labeled Good Jobs for Michigan) and did not live up to expectations. Supporters claimed that it would create thousands of jobs. Administrators made only six deals over the life of the program. Despite over five years to produce results, only one of the companies that had received a deal had created any jobs, according to the latest state report. This package of bills resurrects the business incentive and rebrands it as HIRE in Michigan.
Co-sponsored by Reps.
Referred to the Committee on Economic Development and Small Business
