The House Bill package 4189-4191 passed with overwhelming bipartisan support, and clarifies that businesses established following the merger of Tenneco and Federal Mogul can utilize a tax credit authorized by the Michigan Strategic Fund.
“Michigan is the birthplace of the middle class and the home of thousands of dedicated workers,” said Whitmer. “These bills will help keep high wage jobs right here in Michigan, and ultimately help protect Michigan taxpayers.”
House Bill 4189 modifies the definition of “taxpayer” to include businesses created after the merger of Tenneco and Federal Mogul. The bill was sponsored by Representative Jason Sheppard, R-Temperance.
House Bill 4190 allows the Michigan Strategic Fund to approve the modification and transfer of an existing written agreement to a transferee as long as that credit does not exceed $12 million. The bill was sponsored by Representative Michael Webber, R-Rochester Hills.
House Bill 4191 allows the taxpayer who received approval from the Michigan Strategic Fund to file a return under the Michigan Business Tax. The bill was sponsored by Representative Kevin Coleman, D-Westland.
House Bill 4446 amends the Michigan Campaign Finance Act to allow secondary depositories to be used to receive the proceeds of a joint fundraiser and disperse the funds to the various committees benefiting from the fundraiser. It would also, among other changes, allow a connected organization to pay costs for fundraising activities for the separate segregated fund. The bill was sponsored by Representative Julie Calley, R-Portland.