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Wed May 5, 2010
Lawmakers seek more review of state tax credits
LANSING, MI –
Michigan lawmakers want auditors to dig deeper into the state's tax incentive programs for businesses.
Republican state Sen. Nancy Cassis says Wednesday she will formally request that Michigan Economic Growth Authority tax credits for 2008 and 2009 be reviewed more closely by the state auditor general. The request comes after a recent audit found that some companies given millions of dollars in Michigan tax credits to create jobs or invest in the state didn't always live up to their agreements on how much they would pay workers.
The audit also said the Michigan Strategic Fund, which oversees tax credits awarded by the Michigan Economic Growth Authority board, didn't follow proper procedures in checking whether companies were doing what was necessary to win the credits.