MI HB5467

Creates a Legislative Tax Expenditure Review Commission within the legislative council consisting of 5 economists appointed by legislative leaders from University of Michigan, Michigan State University, Michigan Technological University, Wayne State University, and the Upjohn Institute.

Commission members serve 3-year terms without compensation but may be reimbursed for reasonable expenses; must meet at least monthly in public meetings complying with Michigan's open meetings law.

By December 31, 2012, the commission must review and investigate tax expenditures (credits, deductions, and exemptions), evaluate their return on investment, and determine which should be continued, modified, or repealed.

By October 1, 2013, the commission must report its specific determinations and recommendations to both houses of the legislature and the governor.

Two co-chairpersons from the speaker of the house and senate majority leader serve with monthly rotation; majority vote required for official commission action.