Bill Text: MI HB4274 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Michigan business tax; credit; listing of tax credits available under the Michigan business tax act and report on the operation and effectiveness of each credit; require treasury to provide. Amends sec. 513 of 2007 PA 36 (MCL 208.1513).
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2009-02-18 - Printed Bill Filed 02/18/2009 [HB4274 Detail]
Download: Michigan-2009-HB4274-Introduced.html
HOUSE BILL No. 4274
February 17, 2009, Introduced by Reps. McMillin and Knollenberg and referred to the Committee on Tax Policy.
A bill to amend 2007 PA 36, entitled
"Michigan business tax act,"
by amending section 513 (MCL 208.1513).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 513. (1) The tax imposed by this act shall be
administered by the department of treasury pursuant to 1941 PA 122,
MCL 205.1 to 205.31, and this act. If a conflict exists between
1941 PA 122, MCL 205.1 to 205.31, and this act, the provisions of
this act apply.
(2) The department shall promulgate rules to implement this
act pursuant to the administrative procedures act of 1969, 1969 PA
306, MCL 24.201 to 24.328.
(3) The department shall prescribe forms for use by taxpayers
and may promulgate rules in conformity with this act for the
maintenance by taxpayers of records, books, and accounts, and for
the computation of the tax, the manner and time of changing or
electing accounting methods and of exercising the various options
contained in this act, the making of returns, and the
ascertainment, assessment, and collection of the tax imposed under
this act.
(4) The tax imposed by this act is in addition to all other
taxes for which the taxpayer may be liable.
(5) The department shall prepare and publish statistics from
the records kept to administer the tax imposed by this act that
detail the distribution of tax receipts by type of business, legal
form of organization, sources of tax base, timing of tax receipts,
and types of deductions. The statistics shall not result in the
disclosure of information regarding any specific taxpayer.
(6) The department shall prepare a clear and concise listing
of each credit allowed under this act and a detailed explanation of
that credit. The department shall make a copy of the listing
available to the public upon request and shall post the listing on
the department's official website. Beginning March 1, 2009 and each
March 1 thereafter, the department shall update the listing
required under this subsection to include, based on the report
required under subsection (7), the number of taxpayers broken down
by firm and industry category that claimed each credit and the
amount of credits awarded under each of those credits during the
immediately preceding year under this act, and for credits claimed
under sections 429, 431, 431a, 431b, 431c, 433, 437, 455, 457, and
459, the department shall also include the name and address of each
taxpayer and the amount of the credit awarded to that taxpayer
under each of those respective credits during the immediately
preceding year.
(7) Not later than March 1 of each year after 2008, the
department shall submit to the governor and both houses of the
legislature an annual report concerning the operation and
effectiveness of each credit under this act and shall post the
report on the department's official website. The requirements of
section 28(1)(f) of 1941 PA 122, MCL 205.28, do not apply to
disclosure of tax information required by this subsection. The
report shall include, but is not limited to, all of the following:
(a) A brief assessment of the overall effectiveness of each
credit under this act during the immediately preceding calendar
year.
(b) Except as otherwise provided for those credits
specifically identified under subdivision (c), the total number of
taxpayers, broken down by firm size and industry categories as to
be determined by the department, that claimed each credit and the
amount of credits awarded under each credit to those taxpayers
under this act during the immediately preceding calendar year.
(c) The name and address of each taxpayer that claimed a
credit under section 429, 431, 431a, 431b, 431c, 433, 437, 455,
457, or 459, or any combination of those credits, under this act
during the immediately preceding calendar year including the amount
of the credit awarded under each section for that taxpayer.