MI SB0889

Amends disclosure restrictions in the Revenue Collection Act to allow information sharing about film office credits, postproduction certificates, and investment expenditure certificates under the Michigan Business Tax Act.

Permits disclosure of applications, agreements, certificates, denials, and total credits claimed under sections 455, 457, and 459 of the Michigan Business Tax Act, notwithstanding existing confidentiality restrictions.

Maintains existing penalties for unlawful disclosure of tax information, including felony charges up to $5,000 fine and 5 years imprisonment for state employees who violate confidentiality rules.

Requires annual reporting to legislative committees on Michigan Business Tax statistics broken down by business sector and firm size while protecting individual taxpayer information.

Effective immediately upon approval by the Governor on December 21, 2010.