MI HB5060

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

For fiscal years before January 1, 2008, requires reporting on the former Single Business Tax (1975 PA 228) including capital investment write-offs, business losses, carryforward losses, and various exemptions and credits.

For fiscal years beginning January 1, 2008 and after, requires reporting on the Michigan Business Tax (2007 PA 36) including capital investment write-offs, business losses, carryforward losses, exemptions, and credits.

Adds new reporting requirement for certificated credits under section 107 of the Michigan Business Tax Act, with data presented separately by size of final liability and showing the number of claimants and tax amounts forgone.

Corrects spelling of "foregone" throughout the statute and updates references from the repealed Single Business Tax to the Michigan Business Tax.