BROWNFIELD CREDIT REVISION

Senate Bill 982 (Substitute H-1)

Sponsor:  Sen. Jason E. Allen

House Committee:  New Economy and Quality of Life

Senate Committee:  Economic Development and Regulatory Reform

Complete to 11-20-08

A SUMMARY OF SENATE BILL 982 (H-1) AS REPORTED FROM HOUSE COMMITTEE

 

The bill would amend the Michigan Business Tax (MBT) Act to allow the Michigan Economic Growth Authority to reconsider an "amended" project when making its determination of a qualified taxpayer's claim, on an previously approved project, for brownfield tax credits against the Michigan Business Tax.

MCL 208.1437

FISCAL IMPACT:

The bill does not appear to have a significant fiscal impact.

POSITIONS:

The Michigan Economic Development Corporation supports the bill.  (11-12-08)

The Traverse City Area Chamber of Commerce supports the bill.  (11-12-08)

                                                                                           Legislative Analyst:   J. Hunault

■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.