HOUSE BILL No. 4210


     February 13, 2001, Introduced by Reps. Vear, Raczkowski and Gosselin and referred to the Committee on Tax Policy.


        A bill to repeal 1975 PA 228, entitled

   "Single business tax act,"

   (MCL 208.1 to 208.145).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           Enacting section 1.  The single business tax act, 1975

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      PA 228, MCL 208.1 to 208.145, is repealed on the January 1 fol-

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      lowing the end of the state fiscal year for which the comprehen-

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      sive annual financial report of this state for a state fiscal

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      year, published pursuant to section 494 of the management and

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      budget act, 1984 PA 431, MCL 18.1494, reports an ending balance

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      of more than $250,000,000.00 in the countercyclical budget and

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      economic stabilization fund created under section 351 of the man-

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      agement and budget act, 1984 PA 431, MCL 18.1351, and the tax

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      rate under section 31 of the single business tax act, 1975

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      PA 228, MCL 208.31, is reduced to zero.


   00235'01                 Final page.                             RJA