HB-5409, As Passed Senate, December 13, 2007

SENATE SUBSTITUTE FOR

HOUSE BILL NO. 5409

A bill to amend 2007 PA 36, entitled

"Michigan business tax act,"

(MCL 208.1101 to 208.1601) by adding section 450a.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 450a. (1) A taxpayer that qualified to claim the credit

under section 34 of former 1975 PA 228 may claim the credit under

section 450 for the total number of years designated in the

agreement, reduced by the number of years the taxpayer claimed the

credit under section 34 of former 1975 PA 228, or until January 1,

2016, whichever occurs first.

(2) A taxpayer that claims a credit under section 450 is not

prohibited from claiming a credit under section 405. However, the

taxpayer shall not claim a credit under section 450 and section 405