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MI HB6108
Bill
Status
5/4/2010
Primary Sponsor
Kim Meltzer
Click for details
AI Summary
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Shortens the tax credit period for motorsports entertainment complex owners from 2008-2012 to 2008-2010, eliminating separate credit tiers for 2011-2012.
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Reduces capital expenditure credit for motorsports facilities to a flat $2,100,000 annual limit (previously tiered from $2.1 million down to $1.05 million across years).
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For 2009, allows 50% credit for necessary event safety expenses (professional fees, police, traffic management); for 2010, allows full credit with refund if amount exceeds tax liability.
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Modifies Section 446 exhibition credit to apply only to 2009 and 2010 tax years, reducing maximum credits from $500,000 (2009) to $250,000 (2010).
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Bill effectiveness is contingent on passage of 17 companion bills (HB 5249, HB 6103-6119).
Legislative Description
Michigan business tax; credit; credits for certain facilities; sunset. Amends secs. 409, 410, 410a & 446 of 2007 PA 36 (MCL 208.1409 et seq.). TIE BAR WITH: HB 5249'09, HB 6103'10, HB 6104'10, HB 6105'10, HB 6106'10, HB 6107'10, HB 6109'10, HB 6110'10, HB 6111'10, HB 6112'10, HB 6113'10, HB 6114'10, HB 6115'10, HB 6116'10, HB 6117'10, HB 6118'10, HB 6119'10
Michigan business tax, credit
Last Action
Printed Bill Filed 05/05/2010
5/5/2010