2007 House Bill 5327

Revise Michigan Business Tax insurance company provisions

Introduced in the House

Oct. 18, 2007

Introduced by Rep. Steve Bieda (D-25)

To repeal certain limitations on insurance companies claiming the employee compensation tax credits against the new Michigan Business Tax (MBT) that other types of businesses may claim.

Referred to the Committee on Tax Policy

Dec. 5, 2007

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

March 11, 2008

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute failed by voice vote

Substitute offered by Rep. Steve Bieda (D-25)

To replace the previous version of the bill with one that reduces but does not eliminate the limitations on insurance companies claiming employee compensation tax credits against the new Michigan Business Tax (MBT).

The substitute passed by voice vote

Passed in the House 107 to 0 (details)

To reduce (but not eliminate) certain limitations on insurance companies claiming the employee compensation tax credits against the new Michigan Business Tax (MBT) that other types of businesses may claim.

Received in the Senate

March 12, 2008

Referred to the Committee on Finance