Bill Text: MI HB5787 | 2015-2016 | 98th Legislature | Introduced

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Bill Title: Economic development; Michigan strategic fund; certification and approval of angel investment tax credits; authorize. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 16. TIE BAR WITH: HB 5786'16

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-09-14 - Referred To Second Reading [HB5787 Detail]

Download: Michigan-2015-HB5787-Introduced.html

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HOUSE BILL No. 5787

July 13, 2016, Introduced by Rep. Farrington and referred to the Committee on Tax Policy.

 

     A bill to amend 1984 PA 270, entitled

 

"Michigan strategic fund act,"

 

(MCL 125.2001 to 125.2094) by adding section 16.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 16. The board shall determine eligibility and issue

 

certificates to taxpayers that make qualified investments in

 

qualified businesses under section 278a of the income tax act of

 

1967, 1967 PA 281, MCL 206.278a. As used in this section,

 

"qualified business" and "qualified investment" mean those terms as

 

defined in section 278a of the income tax act of 1967, 1967 PA 281,

 

MCL 206.278a.

 

     Enacting section 1. This amendatory act does not take effect

 

unless Senate Bill No. ____ or House Bill No. 5686 (request no.

 

03210'15) of the 98th Legislature is enacted into law.