FINAL PASSAGE

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.

• Substitute H-1 was not adopted.
• Clemente Amendment-2 was adopted.
• SB 71 was advanced to 3rd reading.
• SB 71 was passed [RC 497: 103 yes, 0 no]
• IE was ordered.

SB 774 (Cassis)

SB 774 would cap the value of increased Michigan Economic Growth Authority tax break credits claimed in any year to $30 million more than those claimed the previous year.

• Substitute H-1 was not adopted.
• Clemente H-2 was adopted.
• Clemente 2-A was adopted.
• SB 774 was advanced to 3rd reading.
• SB 774 was passed [RC 498: 104 yes, 1 no]
• IE was ordered.

SB 70 (Cassis)

SB 70 would require the Department of Treasury to divulge to the chairpersons of the Senate and House Finance or Tax committees, or the directors of the Senate and House Fiscal Agencies, information about business tax revenues, including the amount of business income and gross receipts tax subject to tax, business income tax liability, various tax credits, etc.

• Substitute H-2 was not adopted.
• Ebli H-3 was adopted.
• SB 70 was advanced to 3rd reading.
• SB 70 was passed [RC 499: 105 yes, 0 no]
• IE was ordered.

HB 5375 (Scripps)

Energy; alternative sources; renewable energy and energy efficiency grant and loan program; create, and establish restricted fund.

• Shuitmaker-1 was adopted.
• HB 5375 was advanced to 3rd reading.
• HB 5375 was passed [RC 500: 82 yes, 23 no]
• IE was ordered.