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Thu March 25, 2010
House approves oversight bill for tax credits
By Laura Weber, Michigan Public Radio Network
LANSING, MI – The Legislature is working quickly to approve a bill that would increase oversight of businesses applying for tax credits with the Michigan Economic Development Corporation. The legislation was created after a convicted embezzler was approved for $9 million in tax credits from the MEDC.
Democratic state Representative Jon Switalski sponsored the bill.
"We can not let this unfortunate incident scar the reputation of a program that is used to promote the type of growth we need to put people back to work and jumpstart our economy," Switalski says.
The measure to create the Michigan Corporate Responsibility Act was approved easily by the House. It now moves to the state Senate.