June 17, 2004, Introduced by Reps. Smith, Huizenga, Accavitti, Condino, Bieda, Hunter, Tobocman, Cheeks and McConico and referred to the Committee on Tax Policy.
A bill to amend 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 37h.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 37h. (1) For tax years that begin after December 31,
2 2004 and before January 1, 2007, the credit allowed under section
3 37g for a taxpayer that is a motion picture production company
4 shall equal either of the following:
5 (a) If the total production costs for a motion picture are
6 $250,000.00 or more but less than $1,000,000.00, 10% of the
7 payroll for the tax year for residents of this state employed by
8 the taxpayer in connection with the production of that motion
9 picture.
10 (b) If the total production costs for a motion picture are
11 $1,000,000.00 or more, 25% of the payroll for the tax year for
1 residents of this state employed by the taxpayer in connection
2 with the production of that motion picture.
3 (2) As used in this section:
4 (a) "Motion picture" and "motion picture production company"
5 mean those terms as defined in section 37g.
6 (b) "Payroll" means the total salaries and wages before
7 deducting any personal or dependency exemptions for employees
8 whose salary is less than $1,000,000.00 for the tax year.
9 Enacting section 1. This amendatory act does not take
10 effect unless House Bill No. 5958 of the 92nd Legislature is
11 enacted into law.