December 2, 2009, Introduced by Rep. Green and referred to the Committee on New Economy and Quality of Life.
A bill to amend 1995 PA 24, entitled
"Michigan economic growth authority act,"
by amending section 6 (MCL 207.806), as amended by 2008 PA 548.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 6. The authority shall have powers necessary or
convenient to carry out and effectuate the purpose of this act,
including, but not limited to, the following:
(a) To authorize eligible businesses to receive tax credits to
foster job creation in this state.
(b) To determine which businesses qualify for tax credits
under this act.
(c) To determine the amount and duration of tax credits
authorized under this act.
(d) To issue certificates and enter into written agreements
specifying the conditions under which tax credits are authorized
and the circumstances under which those tax credits may be reduced
or terminated.
(e) To charge and collect reasonable administrative fees.
(f) To delegate to the chairperson of the authority, staff, or
others the functions and powers it considers necessary and
appropriate to administer the programs under this act.
(g) To assist an eligible business to obtain the benefits of a
tax credit, incentive, or inducement program provided by this act
or by law.
(h) To determine the eligibility of and issue certificates to
certain
qualified taxpayers for credits allowed under former
section 38g(3) of former 1975 PA 228 and section 431 of the
Michigan business tax act, 2007 PA 36, MCL 208.1431, and to develop
the application process and necessary forms to claim the credit
under
former section 38g(3) of former
1975 PA 228 and section 431
of the Michigan business tax act, 2007 PA 36, MCL 208.1431. The
Michigan economic growth authority annually shall prepare and
submit to the house of representatives and senate committees
responsible for tax policy and economic development issues a report
on
the credits under former section 38g(3) of former 1975
PA 228
and section 431 of the Michigan business tax act, 2007 PA 36, MCL
208.1431. The report shall include, but is not limited to, all of
the following:
(i) A listing of the projects under former section
38g(3) of
former 1975 PA 228 and section 431 of the Michigan business tax
act, 2007 PA 36, MCL 208.1431, that were approved in the previous
calendar year.
(ii) The total amount of eligible investment approved under
former
section 38g(3) of former 1975
PA 228 and section 431 of the
Michigan business tax act, 2007 PA 36, MCL 208.1431, in the
previous calendar year.
(i) To approve the capture of school operating taxes and work
plans as provided in sections 13 and 15 of the brownfield
redevelopment financing act, 1996 PA 381, MCL 125.2663 and
125.2665.
(j) To determine the eligibility of and issue certificates to
certain qualified taxpayers for credits allowed under section 407
of the Michigan business tax act, 2007 PA 36, MCL 208.1407.
(k) To determine the eligibility of and issue certificates to
certain
taxpayers for credits allowed under sections 431a, and
431b, and 431c of the Michigan business tax act, 2007 PA 36, MCL
208.1431a, and
208.1431b, and 208.1431c.
(l) To determine the eligibility of and issue certificates to
certain taxpayers for credits allowed under sections 432 to 432d of
the Michigan business tax act, 2007 PA 36, MCL 208.1432 to
208.1432d.
(m) To determine the eligibility of and issue certificates to
certain taxpayers for credits allowed under section 434 of the
Michigan business tax act, 2007 PA 36, MCL 208.1434.
(n) To determine eligibility of and issue certificates to
certain taxpayers for credits allowed under section 465 of the
Michigan business tax act, 2007 PA 36, MCL 208.1465.