Michigan Unemployment Rate Falls
Michigan’s seasonally adjusted unemployment
rate dropped 0.1 percent in February to 7.7 percent. The total number of people
employed in February 2014 stood at 4.356 million, 26,000 more than January 2014
and 69,000 more than February 2013. This marks the sixth consecutive month the
state’s jobless rate declined. In February 2013 the unemployment rate was 8.8
percent.
Senators Caswell, Jones Introduce Tax
Increase Proposal
State Senators Caswell (R-Hillsdale) and Jones
(R-Grand Ledge) on Tuesday introduced a joint resolution calling for a 1
percent increase in the sales tax that would be dedicated strictly to road
funding. Senate Majority Leader Randy Richardville (R- Monroe) said he
introduced a similar measure a couple of years ago, and maintains that there
are many ways to solve the problem and each should be considered. He
acknowledged that passing a tax increase in an election year would be
difficult.
Snyder Signs Micro-Brew Legislation
Legislation aimed at expanding small
breweries in the state was signed by Governor Rick Snyder on Tuesday. The
legislation will allow brewpubs to control an additional five locations, and
doubles the current production limit from 30,000 barrels a year to 60,000.
Smaller brewers may also expand the places that would be considered on-premises
sales.
PPT Reimbursement
The House passed a package of Senate bills
with changes in the reimbursement formula, which was returned to the Senate for
final approval and are now on their way to the Governor Snyder’s desk. The
formula will be based on the reduced acquisition cost of the exempted property
as opposed to a property’s industrial real property value. The Department of
Treasury indicated the new formula would more closely reflect trends in
personal property values. Without the change, some local governments would not
have received the full reimbursement promised by legislators as a result of
curbing the personal property tax.