HB 5869 Summary

• Amends Section 28 of the 1941 Revenue Collection Act to require the Department of Treasury to disclose information about certificated tax credits under the Michigan Business Tax Act.

• Requires the department to report to the House and Senate fiscal agencies on September 10, December 10, and April 10 regarding certificated credits submitted with tax returns, including business name, certificate number, tax year, net liability, and filing date.

• Mandates disclosure to the Governor and all legislators of aggregate data on processed certificated credits, including number of certificates, total credit amounts, and aggregate net Michigan business tax liability, broken down by credit type and fiscal year.

• Makes corrective changes to capitalization of "Gaming Control and Revenue Act" references within the existing statute.

• Adds new reporting subsections (8) and (9) while renumbering the previous subsection (8) as subsection (10) to accommodate the new disclosure requirements.