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MI SB1097

Bill

Official Source

Status

Enrolled

12/18/2020

Primary Sponsor

Wayne Schmidt

Click for details

Origin

Senate

100th Legislature

AI Summary

SB 1097 Summary

  • Extends the deadline for completing multiphase projects under Michigan's business tax credit from 10 years to September 14, 2022 for projects approved by Resolution 2008-178 and issued a preapproval letter on March 14, 2011.

  • Extends the deadline to September 14, 2023 for multiphase projects approved by Resolution 2020-046 and issued a preapproval letter on June 10, 2011.

  • Allows qualified taxpayers to complete these specific multiphase projects and claim credits by the extended deadlines without incurring penalties.

  • Makes the act effective immediately upon enactment.

Legislative Description

Michigan business tax: credits; time frame for completion of certain multiphase projects; modify. Amends sec. 437 of 2007 PA 36 (MCL 208.1437).

Michigan business tax: credits

Last Action

Pocket Veto 01/05/2021

12/30/2020

Committee Referrals

Tax Policy9/30/2020
Economic And Small Business Development9/10/2020

Full Bill Text

No bill text available