MBT & SBT: STATUTORY REFERENCES H.B. 5496 & 5497: FLOOR ANALYSIS
[Please see the PDF version of this analysis, if available, to view this image.]
House Bills 5496 and 5497 (as passed by the House)
Sponsor: Representative Edward Gaffney, Jr. (H.B. 5496)
Representative Marsha Cheeks (H.B. 5497)
House Committee: Tax Policy
CONTENT
The bills would amend various acts to include references to the Michigan Business Tax (MBT) Act or sections of the MBT Act in provisions that refer to the Single Business Tax (SBT) Act.
House Bill 5496 would amend Public Act 189 of 1953, which provides for the taxation of lessees and users of tax-exempt property, to include a reference to the MBT Act or a section of the MBT Act in provisions pertaining to a qualified start-up business.
House Bill 5497 would amend the Obsolete Property Rehabilitation Act to refer to a section of the MBT Act in a definition of "qualified start-up business".
MCL 211.181a (H.B. 5496) Legislative Analyst: Craig Laurie
125.2790 (H.B. 5497)
FISCAL IMPACT
The bills would update the statutes described above with appropriate references to the new Michigan business tax and, in some cases, also would update various Michigan Compiled Law references. These proposed changes are "technical" in nature and therefore the bills would have no fiscal impact on State or local government.
Date Completed: 12-11-07 Fiscal Analyst: Jay Wortley
David Zin
floor\hb5496 Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb5496&5497/0708