MI SB0429

Amends the Michigan Business Tax Act to expand the definition of "certificated credit" to include credits for taxpayers with development agreements executed with the Michigan Strategic Fund before January 1, 2012, and those with qualified collaborative agreements under the Michigan Renaissance Zone Act before January 1, 2012.

Adds a new category of certificated credits for taxpayers who entered into development agreements under section 8i of the Michigan Renaissance Zone Act before January 1, 2012.

Modifies Section 433 to clarify that taxpayers subject to both Chapter 2A and Chapter 2B taxes are eligible for Renaissance Zone credits, and excludes casino-related business activities and illegal activities from credit calculations.

Establishes restrictions prohibiting taxpayers claiming credits from employing or compensating state employees, administrative board members, or Renaissance Zone review board members whose work relates to authorization or enforcement of the credit for the duration of credit claims plus 3 years thereafter.

Makes the bill contingent on the enactment of Senate Bill No. 430 of the 97th Legislature.