Bill Text: MI HB4717 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Economic development; Michigan economic growth authority; allocation of tax credits or grants to foster job creation or retention; provide for. Amends secs. 2 & 6 of 1995 PA 24 (MCL 207.802 & 207.806). TIE BAR WITH: HB 4716'09, HB 4718'09, HB 4719'09, HB 4720'09
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-03-31 - Printed Bill Filed 03/27/2009 [HB4717 Detail]
Download: Michigan-2009-HB4717-Introduced.html
HOUSE BILL No. 4717
March 26, 2009, Introduced by Rep. Ebli and referred to the Committee on Tax Policy.
A bill to amend 1995 PA 24, entitled
"Michigan economic growth authority act,"
by amending sections 2 and 6 (MCL 207.802 and 207.806), section 6
as amended by 2008 PA 548.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2. The legislature finds that it is in the public
interest to promote economic growth and to encourage private
investment, job creation and retention, and job upgrading for
residents in this state.
Sec. 6. The authority shall have powers necessary or
convenient to carry out and effectuate the purpose of this act,
including, but not limited to, the following:
(a) To authorize eligible businesses to receive tax credits or
grants in anticipation of tax credits to foster job creation or
retention in this state.
(b) To determine which businesses qualify for tax credits
under this act.
(c) To determine the amount and duration of tax credits
authorized under this act.
(d) To issue certificates and enter into written agreements
specifying the conditions under which tax credits are authorized
and the circumstances under which those tax credits may be reduced
or terminated.
(e) To charge and collect reasonable administrative fees.
(f) To delegate to the chairperson of the authority, staff, or
others the functions and powers it considers necessary and
appropriate to administer the programs under this act.
(g) To assist an eligible business to obtain the benefits of a
tax credit, incentive, or inducement program provided by this act
or by law.
(h) To determine the eligibility of and issue certificates to
certain qualified taxpayers for credits allowed under former
section 38g(3) of 1975 PA 228 and section 431 of the Michigan
business tax act, 2007 PA 36, MCL 208.1431, and to develop the
application process and necessary forms to claim the credit under
former section 38g(3) of 1975 PA 228 and section 431 of the
Michigan business tax act, 2007 PA 36, MCL 208.1431. The Michigan
economic growth authority annually shall prepare and submit to the
house of representatives and senate committees responsible for tax
policy and economic development issues a report on the credits
under former section 38g(3) of 1975 PA 228 and section 431 of the
Michigan business tax act, 2007 PA 36, MCL 208.1431. The report
shall include, but is not limited to, all of the following:
(i) A listing of the projects under former section 38g(3) of
1975 PA 228 and section 431 of the Michigan business tax act, 2007
PA 36, MCL 208.1431, that were approved in the previous calendar
year.
(ii) The total amount of eligible investment approved under
former section 38g(3) of 1975 PA 228 and section 431 of the
Michigan business tax act, 2007 PA 36, MCL 208.1431, in the
previous calendar year.
(i) To approve the capture of school operating taxes and work
plans as provided in sections 13 and 15 of the brownfield
redevelopment financing act, 1996 PA 381, MCL 125.2663 and
125.2665.
(j) To determine the eligibility of and issue certificates to
certain qualified taxpayers for credits allowed under section 407
of the Michigan business tax act, 2007 PA 36, MCL 208.1407.
(k) To determine the eligibility of and issue certificates to
certain
taxpayers for credits allowed under sections 431a and 431b
to 431d of the Michigan business tax act, 2007 PA 36, MCL 208.1431a
and
208.1431b to 208.1431d.
(l) To determine the eligibility of and issue certificates to
certain taxpayers for credits allowed under sections 432 to 432d of
the Michigan business tax act, 2007 PA 36, MCL 208.1432 to
208.1432d.
(m) To determine the eligibility of and issue certificates to
certain taxpayers for credits allowed under section 434 of the
Michigan business tax act, 2007 PA 36, MCL 208.1434.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 95th Legislature are
enacted into law:
(a) Senate Bill No.____ or House Bill No. 4716(request no.
02788'09).
(b) Senate Bill No.____ or House Bill No. 4718(request no.
02870'09).
(c) Senate Bill No.____ or House Bill No. 4719(request no.
02892'09).
(d) Senate Bill No.____ or House Bill No. 4720(request no.
02894'09).
