The Usual Michigan Nonsense
May 14, 2008
From today’s State Tax Notes:
Michigan Final SB 1189 Amends Eligibility Criteria for Credit Under MEGA Act
Michigan SB 1189, signed into law as Public Act 110, amends the Michigan Economic Growth Authority (MEGA) Act by reducing, from 100 to 50, the minimum number of new jobs that a business must create or the number of retained jobs that a business must maintain to qualify for a business tax credit through the MEGA Act.
Michigan Final SB 1118 Provides MBT Credit for Construction of Entertainment Complexes
Michigan SB 1118, signed into law as Public Act 115, provides that, beginning on or after January 1, 2008, and ending before January 1, 2013, an eligible taxpayer may claim a business tax credit for the construction of entertainment complexes.
Tax credits for the construction of entertainment complexes are ridiculous. But then again, this is Michigan where sensible economic policy is seen about once every few decades.