May 4, 2005, Introduced by Reps. Baxter, Elsenheimer and Hildenbrand and referred to the Committee on Commerce.
A bill to amend 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 35c.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 35c. For purposes of approving projects for a credit
allowed under section 38g(33), the Michigan economic growth
authority is subject to both of the following:
(a) The Michigan economic growth authority shall approve not
more than 100 projects each calendar year.
(b) If the Michigan economic growth authority approves a
project under section 38g(33), the Michigan economic growth
authority shall issue a preapproval letter that states all of the
following:
(i) That the taxpayer is a qualified taxpayer.
(ii) The maximum total eligible investment for the project on
which credits may be claimed and the maximum total of all credits
for the project when the project is completed and a certificate of
completion is issued.
(iii) The project number assigned by the Michigan economic
growth authority.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No.____ or House Bill No. 4734(request no.
01766'05*) of the 93rd Legislature is enacted into law.