MI SB0243

Creates new section 51f to deposit withholding tax capture revenues attributable to certified new jobs under the Good Jobs for Michigan program into the good jobs for Michigan fund each state fiscal year.

Requires authorized businesses with written agreements under the Michigan strategic fund act to have their withholding tax revenues from certified new jobs directed to the good jobs for Michigan fund.

Amends section 711 to require employers with Good Jobs for Michigan program agreements to delineate in their tax return or report the portion of withheld taxes attributable to certified new jobs.

Maintains existing requirements for employers to file annual reconciliation returns and make withholding statements, with extended deadlines for businesses that cease operations.

Takes effect August 25, 2017.