Introduced
by
To allow certain personal property tax breaks granted to a particular business to be transferred to another business eligible for the same tax breaks when it acquires the property of the first firm, and extend the tax breaks to any new personal property (business tools and equipment) acquired by the second business. Local government approval would be required.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
To require the approval of the local government for the tax break to be transferred to a new owner.
The amendment passed by voice vote
Passed in the Senate 36 to 0 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
To replace the previous version of the bill with one that divides its provisions between this bill and House Bill 5251.
The substitute passed by voice vote
Passed in the House 109 to 0 (details)
To allow personal property tax breaks granted to the Delphi Chassis division in Saginaw and Buena Vista Township to be transferred to the buyer of the plant, and extend the tax breaks to any new personal property (business tools and equipment) acquired by the buyer. The bill relates to Delphi Corporation’s sale of this facility as part of its bankruptcy plan.
Passed in the Senate 36 to 0 (details)
To concur with the House-passed version of the bill.
Motion
To give the bill immediate effect.
The motion failed 22 to 10 (details)
