2009 Senate Bill 773 ↩

Senate Roll Call 450: Passed

To cap the number of new Michigan Economic Growth Authority tax break deals at 300 per year, and limit to 85 the number of new tax credits claimed by recipients of past MEGA deals who had not previously met the job creation/retention targets of those deals, and so had not “earned” business tax credits. For 2009, the caps would be 400 and 85, respectively. The bill would also add increased transparency requirements to MEGA, including a requirement that its annual report provide data on individual company tax break deals, not just aggregate data; prohibit MEGA from advocating for political reasons that a potential tax break recipient choose one Michigan location over another; and require disclosure if a proposed tax break recipient will be competing against existing Michigan businesses that do not get the same preferential treatment.