LANSING, MI (AP)-- A plan to eliminate $600 million in taxes businesses annually pay on computers and equipment is headed to the Republican-controlled House.
The proposal passed by a House committee Wednesday would repeal a tax that supporters say hurts businesses and reduces Michigan's economic competitiveness. It also would reimburse all money lost for emergency services such as police and fire and 80 percent of the money for other municipal services.
The proposal would take a decade to fully implement and require voter approval if the Legislature passes it.
The proposal is the latest business-friendly tax restructuring effort sought by Governor Rick Snyder, who worked with lawmakers last year to replace the Michigan Business Tax with a 6-percent corporate income tax most businesses don't have to pay.
