2007 Senate Bill 94 ↩

House Roll Call 166: Passed

To establish a new business tax that is essentially the same one as the House Democratic proposal contained in <a href="http://www.michiganvotes.org/2007-HB-4367">House Bill 4367</a>. This would be a “revenue neutral” 6.95 percent profits tax and a 0.488 percent annual tax on a firm’s net worth. The action reportedly was taken primarilly to get the House and Senate-passed versions of a proposed SBT replacement plans into a conference committee and work out a compromise.