HB-5743, As Passed Senate, March 22, 2006
(As amended March 16, 2006)
(As amended, March 22, 2006)
(Page 1 of 2)
February 22, 2006, Introduced by Reps. Drolet, Hoogendyk, Brandenburg, Marleau, David Law, Stakoe, Baxter, Gosselin, Taub, Vander Veen, Stahl and Ward and referred to the Committee on Tax Policy.
A bill to repeal acts and parts of acts.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Enacting section 1. Enacting section 1 of 2002 PA 531 is
repealed.
Enacting section 2. Enacting section 3 of 1999 PA 115 is
repealed.
Enacting section 3. The single business tax act, 1975 PA 228,
MCL 208.1 to 208.145, is repealed effective for tax years that
begin after [December 31, 2007].
[<<Enacting section 4. The legislature shall replace the single business tax imposed under the single business tax act, 1975 PA 228, MCL 208.1 to 208.145, with a tax or taxes that are more conducive to job creation, investment, and economic growth. The legislature shall not replace revenues not collected based on the repeal by this act of the single business tax act, 1975 PA 228, MCL 208.1 to 208.145, with an increase in the rate or base of any of the following:
(a) The state income tax imposed under the income tax act of 1967, 1967 PA 281, MCL 206.1 to 206.532.
(b) The sales tax imposed under the general sales tax act, 1933 PA 167, MCL 205.51 to 205.78.
(c) The use tax imposed under the use tax act, 1937 PA 94, MCL 205.91 to 205.111.
(d) Taxes collected on residential real property that is not leased or rented for more than 50% of any calendar year and on principal residences. As used in this subdivision:
(i) "Principal residence" means property exempt under section 7cc of the general property tax act, 1893 PA 206, MCL 211.7cc.
(ii) "Residential real property" means property classified as residential real property under section 34c of the general property tax act, 1893 PA 206, MCL 211.34c.
(e) Any other tax the economic incidence of which is on individuals.
Enacting section 5. Before January 1, 2007, the governor's council of economic advisors, created in Executive Order No. 2003-8, shall develop a plan to replace all or a portion of the revenues not collected related to the repeal of the single business tax act, 1975 PA 228, MCL 208.1 to 208.145, by this act. Before January 1, 2007, the governor's council of economic advisors shall report the plan to the governor, the senate majority leader, the speaker of the house of representatives, and the senate and house standing committees that deal with tax and finance matters.>>]