HB-4089 Summary

• Modifies job creation and wage requirements for businesses seeking tax credits under the Michigan Economic Growth Authority Act, including reduced thresholds for high-tech and rural businesses.

• Adds new eligibility pathways beginning January 1, 2008, allowing businesses to qualify with lower job retention thresholds (50 jobs) and capital investment minimums ($50,000 per retained job).

• Requires all agreements entered into after July 1, 2009, to include provisions preventing hired businesses from knowingly employing unauthorized workers and establishes preference for contractors hiring Michigan residents.

• Establishes repayment obligations if eligible businesses move jobs outside Michigan during or after the agreement term, with remedies including credit revocation and benefit repayment.

• Expands annual reporting requirements to the legislature, including details on Michigan resident employment, exemptions granted from hiring provisions, and specific reasons for waiving requirements.