2005 House Bill 5108 ↩

House Roll Call 621: Passed

To reduce the alternative SBT tax rate charged to small businesses from 2 percent to 1.9 percent. Also, to provide a temporary nonrefundable SBT credit against the property taxes paid on industrial tools and equipment brought into Michigan they are used directly by workers transferred here from other states or countries. The bill is part of an agreement struck between Gov. Jennifer Granholm and Republican legislative leaders to adopt <a href="http://www.michiganvotes.org/RollCall.aspx?ID=176636">modest business tax cuts</a> and a scaled-down “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>." Full details of the deal are described by a Senate Fiscal Agency <a href="http://senate.michigan.gov/sfa/Publications/BudUpdates/EconDevProposal2005.pdf">analysis</a> <i>(pdf)</i>.