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MI HB5787

Bill

Official Source

Status

Introduced

7/13/2016

Primary Sponsor

Jeffry Farrington

Click for details

Origin

House of Representatives

98th Legislature

AI Summary

  • Amends the Michigan Strategic Fund Act (1984 PA 270) by adding Section 16 to authorize the board to determine eligibility and issue certificates to taxpayers making qualified investments in qualified businesses.

  • Qualified investments and qualified businesses are defined by Section 278a of the Michigan Income Tax Act of 1967 (1967 PA 281, MCL 206.278a).

  • Takes effect only upon enactment of Senate Bill No. ____ or House Bill No. 5686, establishing a conditional effective date tied to companion legislation.

Legislative Description

Economic development; Michigan strategic fund; certification and approval of angel investment tax credits; authorize. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 16. TIE BAR WITH: HB 5786'16

Economic development: Michigan strategic fund

Last Action

Referred To Second Reading

9/14/2016

Committee Referrals

Tax Policy7/13/2016

Full Bill Text

No bill text available