MI HB4714

Amends 1979 PA 72 to require the governor to report certain tax information with the annual budget message to the legislature.

For fiscal years before January 1, 2008, requires reporting on single business tax deductions and credits including capital investment writeoffs, business losses, carryforward losses, and various exemptions and tax foregone amounts.

For fiscal years beginning January 1, 2008 and after, requires reporting on Michigan business tax deductions and credits including capital investment writeoffs, business losses, carryforward losses, exemptions, and tax foregone amounts.

Requires separate reporting by size of final liability for taxpayers claiming deductions and credits under multiple sections of the Michigan business tax act.

Adds requirement for separate reporting of certificated credits under section 107 of the Michigan business tax act, organized by number of claimants, size of final liability, and amounts of tax forgone.