Senate Bill 492Primary Sponsor:
Ken Horn (R)
Status: Assigned To Committee
Michigan has given three massive corporations more than $56 million in tax breaks since a new state program came online in 2017. That’s $42,000 per job.
Thankfully, this failed program expired in 2019. But Senate Bill 492 would bring back the program and make it even bigger.
SB 492 eliminates the expiration date and the cap on tax capture losses. That means the cost could be unlimited according to the last paragraph of the final fiscal analysis.
Referred to committee of the whole with substitute (S-2)