December 6, 2018, Introduced by Reps. Howrylak, Reilly and Johnson and referred to the Committee on Tax Policy.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
by amending section 51f (MCL 206.51f), as added by 2017 PA 110.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 51f. (1) In addition to the distributions under sections
51, and
51d, and 51e, from the revenue collected from the tax
levied under section 51 an amount equal to that portion of the
withholding tax capture revenues attributable to certified new jobs
and due to be paid to an authorized business pursuant to a written
agreement entered into before the effective date of the 2018
amendatory act that added this phrase under chapter 8D of the
Michigan strategic fund act, 1984 PA 270, MCL 125.2090g to
125.2090j, shall be deposited each state fiscal year into the good
jobs for Michigan fund created in section 90j of the Michigan
strategic fund act, 1984 PA 270, MCL 125.2090j.
(2) As used in this section, "authorized business", "certified
new jobs", "withholding tax capture revenues", and "written
agreement" mean those terms as defined in section 90g of the
Michigan strategic fund act, 1984 PA 270, MCL 125.2090g.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No.____ or House Bill No.____ (request no.
06970'19) of the 99th Legislature is enacted into law.