2008 Senate Bill 1038 ↩

Senate Roll Call 592: The substitute was adopted

To replace the previous version of the bill with one that adds additional gross reciepts exceptions, and removes the tie-bars added by the House to House Bills 4301 and 4628. Among the exceptions included in the bill are revenue from federal or Michigan government bond interest; any tax, fee, surcharge or bottle deposit amounts a firm is required to collect; dividends and royalties received from a foreign operating entity; certain Medicaid nursing home reimbursements; certain business equipment lease expenses; state license fees; sale of fully depreciated property; certain commercial lease income; certain insurance commissions; certain "media property" sales; certain securities dealer and broker or hedging activity revenue; and more.