Date: 2009-10-15 |
MESSAGES FROM THE HOUSESB 70 (Cassis) The bill (H-2) would amend the Revenue Act to require the Department of Treasury to prepare a report containing certain specified statistics related to the Michigan Business Tax Act for the most recent tax year for which reliable return data have been processed and cleared in the ordinary course of return processing by the department. A copy would have to be provided to the chairs of the standing committees in the Senate and House of Representatives with jurisdiction over matters relating to taxation and finance, and to the directors of the Senate and House Fiscal Agencies.
SB 71 (Cassis) SB 71 would require an annual report that the Michigan Economic Growth Authority (MEGA) is required to submit to the legislature to include “the amount of capital investment and the number of jobs required to be created or retained” by each business that enters into a tax break agreement with the Authority, and the actual number of jobs, investments and value of tax break granted to each current and past recipient. Currently the report must include aggregate figures on the total amount of capital investment and new jobs supposedly attracted by firms that are picked by state economic development officials to receive these selective tax breaks.
SB 774 (Cassis) The bill would amend Section 431 of the Michigan Business Tax Act, which allows the Michigan Economic Growth Authority (MEGA) to award multi-year refundable tax credits to firms that meet statutory criteria. Under Senate Bill 774, there would be a new limit imposed on the number of credits that could be claimed each year.
THIRD READINGHB 4191 (Warren) House Bills 4191 (S-1) and 4629 (S-1) would amend the Income Tax Act and the Michigan Business Tax Act, respectively, to allow a taxpayer to deduct the amount of a charitable contribution made to the Advance Tuition Payment Fund created under the Michigan Education Trust Act. House Bill 4191 (S-1) would allow the income tax deduction for the 2010 tax year and each subsequent tax year.
HB 4629 (Lipton) House Bill 4629 (S-1) would allow a taxpayer, for tax years beginning after December 31, 2009, to deduct the amount of a contribution from its business income tax base, to the extent included in Federal taxable income.
GENERAL ORDERS – (TO PASSAGE)HB 4922 (Clemente) The bill (H-1) would amend the Michigan Economic Growth Authority Act to: -Increase the number of MEGA tax credits that may be awarded -Eliminate a current investment requirement for certain high technology businesses which would make it easier for eligible businesses to receive the tax credit.
GENERAL ORDERSHB 5072 (Gonzales) House Bill 5072 (S-1) would amend Public Act 231 of 1987, which governs the Transportation Economic Development Fund (TEDF), to reduce allocations made to targeted industries by $24.0 million for fiscal year (FY) 2008-09 and FY 2009-10. The bill essentially would codify the portion of Executive Order (E.O.) 2009-22 that reduced TEDF money to the Targeted Industries program by $12.0 million during FY 2008-09, and would reduce TEDF money during FY 2009-10 by $12.0 million. (The TEDF is a restricted fund intended to help fund transportation needs, particularly those relating to economic development or reducing road congestion.)
HB 5073 (Gonzales) House Bill 5073 (S-2) would amend the Michigan Vehicle Code to increase the amount deposited in the General Fund from driver license fee revenue that otherwise goes to the TEDF. Public Act 346 of 2008 had previously redirected $6.0 million of the fee revenue to the General Fund during FY 2008-09, and E.O. 2009-22 increased the redirection by another $12.0 million. The bill would update the total redirection for FY 2008-09 to $18.0 million, consistent with the E.O., and redirect another $12.0 million during FY 2009-10.
SB 448 (McManus) The bill would amend the Michigan Vehicle Code to permit the Michigan Department of Transportation (MDOT) or a county road commission to grant exemptions from seasonal weight restrictions for septage haulers.
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