2024 House Bill 5937

Michigan business tax: credits; early termination of credit for a business located in a renaissance zone; allow.

A bill to amend 2007 PA 36, entitled “Michigan business tax act,” by amending section 433 (MCL 208.1433), as amended by 2014 PA 282.

AI Analysis – Experimental

The bill amends the Michigan Business Tax Act to provide tax credits for businesses in renaissance zones, with specific conditions and prohibitions, and allows for early termination of credits through agreements with the Michigan Strategic Fund.

Introduced in the House

Sept. 17, 2024

Introduced by Rep. Cynthia Neeley (D-70)

Referred to the Committee on Tax Policy

Dec. 11, 2024

Reported without amendment

Dec. 13, 2024

Passed in the House 56 to 0 (details)

Motion to give immediate effect by Rep. Jimmie Wilson (D-32)

The motion prevailed by voice vote

Received in the Senate

Dec. 18, 2024

Referred to the Committee on Government Operations