LANSING, Mich. (AP) - Michigan lawmakers have given final approval to legislation designed to make sure local government budgets aren’t hurt when manufacturers and small businesses get planned tax cuts.
The bills sent to Gov. Rick Snyder on Thursday incorporate a recent deal worked out among his administration, municipalities and the business community.
A planned phase-out of taxes on industrial machinery starts in 2016 and is already underway for small businesses with equipment. The tax cuts will be halted if a statewide vote fails in August.
Snyder and legislators in 2012 phased out the taxes but left unresolved a way to ensure counties, cities and townships are made whole. Once Snyder signs the new legislation, local government officials are expected to drop any potential opposition to the ballot issue.
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