RENAME ANNUAL "TAX EXPENDITURE" REPORT
House Bill 4524
Sponsor: Rep. Chris Ward
Committee: Tax Policy
Complete to 6-5-03
A SUMMARY OF HOUSE BILL 4524 AS INTRODUCED 4-8-03
The Management and Budget Act requires that an annual "tax expenditure" report be submitted with the governor's annual budget message to the legislature. House Bill 4524 would rename the report as "the tax credit, deduction, and exemption report".
[The bill is tie-barred to Senate Bill 362, which would amend Public Act 72 of 1979, in a similar way. Public Act 72 requires the governor to report certain tax expenditure items with the annual budget message, and Senate Bill 362 would replace the reference to "tax expenditure items" with "tax credits, deductions, and exemptions". The tie-bar means House Bill 4524 could not take effect without the enactment of Senate Bill 362.]
MCL 18.1361
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This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.