MI HB6473

Creates the "Good Jobs for Michigan" program to transfer withholding tax capture revenues to eligible businesses that create certified new jobs in Michigan.

Requires eligible businesses to create minimum certified new jobs at specified average annual wages, maintain existing full-time jobs, demonstrate economic soundness, and obtain local government approval through written agreements with the fund.

Limits withholding tax capture revenue payments to a maximum of 50% for certain businesses and up to 100% for higher-wage businesses, with 5% of revenues retained for administrative expenses.

Caps total withholding tax capture revenues at $200,000,000 and restricts the fund to executing no more than 15 new written agreements per calendar year.

Prohibits the fund from designating new authorized businesses or entering into new written agreements on or after the effective date of the 2018 amendatory act.