Bill Text: MI HB5166 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Michigan business tax; credit; listing of tax credits available under the Michigan business tax act and report on the operation and effectiveness of each credit; require treasury to provide. Amends sec. 513 of 2007 PA 36 (MCL 208.1513).
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-07-14 - Printed Bill Filed 06/26/2009 [HB5166 Detail]
Download: Michigan-2009-HB5166-Introduced.html
HOUSE BILL No. 5166
June 25, 2009, Introduced by Rep. Miller and referred to the Committee on Tax Policy.
A bill to amend 2007 PA 36, entitled
"Michigan business tax act,"
by amending section 513 (MCL 208.1513).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 513. (1) The tax imposed by this act shall be
administered by the department of treasury pursuant to 1941 PA 122,
MCL 205.1 to 205.31, and this act. If a conflict exists between
1941 PA 122, MCL 205.1 to 205.31, and this act, the provisions of
this act apply.
(2) The department shall promulgate rules to implement this
act pursuant to the administrative procedures act of 1969, 1969 PA
306, MCL 24.201 to 24.328.
(3) The department shall prescribe forms for use by taxpayers
and may promulgate rules in conformity with this act for the
maintenance by taxpayers of records, books, and accounts, and for
the computation of the tax, the manner and time of changing or
electing accounting methods and of exercising the various options
contained in this act, the making of returns, and the
ascertainment, assessment, and collection of the tax imposed under
this act.
(4) The tax imposed by this act is in addition to all other
taxes for which the taxpayer may be liable.
(5) The department shall prepare and publish statistics from
the records kept to administer the tax imposed by this act that
detail the distribution of tax receipts by type of business, legal
form of organization, sources of tax base, timing of tax receipts,
and types of deductions. The statistics shall not result in the
disclosure of information regarding any specific taxpayer.
(6) The department shall prepare a clear and concise listing
of each credit allowed under this act and a detailed explanation of
that credit. The department shall make a copy of the listing
available to the public upon request and shall post the listing on
the department's official website. Within 10 business days after
the annual reports required under this section, section 455, and
section 10 of the Michigan economic growth authority act, 1995 PA
24, MCL 207.810, are submitted to the governor and both houses of
the legislature, respectively, the department shall post a copy of
those reports on the department's official website or, at a
minimum, provide a link to those reports on its official website.
(7) Beginning July 1, 2010 and each July 1 thereafter, the
department shall submit to the governor and the chairpersons of the
senate and house of representatives standing committees that have
jurisdiction over matters relating to taxation and finance an
annual report concerning the operation and effectiveness of the
credits under sections 429, 433, 437, 457, and 459 and shall post
the report on the department's official website. The requirements
of section 28(1)(f) of 1941 PA 122, MCL 205.28, do not apply to
disclosure of tax information required by this subsection. The
report shall include all of the following:
(a) A brief assessment of the overall effectiveness of the
credits available under sections 429, 433, 437, 457, and 459 in
attracting more business to this state and creating more jobs in
this state during the immediately preceding calendar year.
(b) The number of taxpayers, broken down by business sector
and firm size in a manner such that individual taxpayers are not
identified, that applied for each credit under sections 429, 433,
437, 457, and 459.
(c) To the extent applicable, the amount of money spent by
each taxpayer identified in subdivision (b) to comply with its
respective agreements and a breakdown of that spending by those
taxpayers classified as goods, services, or salaries and wages in
the immediately preceding calendar year.
(d) An estimate of the number of persons employed in this
state by the taxpayers identified in subdivision (b) that qualified
for the credit under section 429, 433, 437, 457, or 459,
respectively, in the immediately preceding calendar year.
(e) The value of all tax credit certificates of completion
issued under sections 429, 433, 437, 457, and 459 in the
immediately preceding calendar year.
