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MI HB4190
Bill
Status
10/10/2019
Primary Sponsor
Michael Webber
Click for details
AI Summary
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Adds subsection (12) allowing the Michigan Economic Growth Authority to modify, amend, or transfer a specific tax credit agreement approved November 27, 2018, provided the modification reduces the total credit amount, does not extend the claim term, and the transferee's credit value does not exceed $12,000,000.
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Requires the authority to establish and publish guidelines on its website for any amendments, modifications, or transfers of tax credit agreements under the new provision.
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Makes the act contingent on the enactment of House Bills 4189 and 4191 of the 100th Legislature.
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Takes effect immediately upon enactment.
Legislative Description
Economic development: Michigan economic growth authority; new agreements and certain amendments to tax credit agreements; prohibit. Amends sec. 8 of 1995 PA 24 (MCL 207.808). TIE BAR WITH: HB 4189'19, HB 4191'19
Michigan business tax: credits
Last Action
Assigned Pa 91'19 With Immediate Effect
10/10/2019