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MI HB4353
Bill
Status
2/19/2009
Primary Sponsor
Ed Clemente
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AI Summary
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Reduces the minimum initial equity investment requirement for qualified business deductions from $100,000 to $25,000, effective for investments made before December 31, 2011.
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Extends the deadline for making qualified business investments from December 31, 2009 to December 31, 2011.
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Separates "computer hardware" and "computer software" into distinct categories under advanced computing technology definitions.
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Makes technical amendments to section 30 of the Income Tax Act of 1967 regarding taxable income calculations and various deductions.
Legislative Description
Income tax; deductions; initial angel investment minimum requirement; revise. Amends sec. 30 of 1967 PA 281 (MCL 206.30).
Income tax, deductions
Last Action
Referred To Committee On Economic Development And Regulatory Reform
3/17/2009