The
Senate approved Wednesday a package of bills aimed at repealing $80 million in
tax credit to certain automobile insurance companies while still allowing the
companies to claim a portion of the credit through the current fiscal year.
HB
5457 and HB
5458 included an amendment that allows an insurance company to
include in the calculation of a credit 35 percent of the amounts paid to the
Michigan Automobile Insurance Placement Facility that are attributed to the
assigned claims plan approved under statue. This applies to the 2016 tax year
only. This change is technical, ensuring companies that planned on receiving
and using the credit can still do so.
With
no discussion, the Senate passed by a vote of 29-7 with Senator Ken Horn (R-Frankenmuth),
Senator Joe Hune (R-Whitmore Lake), Senator Rick Jones (R-Grand Ledge), Senator
Tonya Schuitmaker (R-Lawton), Senator Judy Emmons (R-Sheridan) and Senator Dale
Zorn (R-Ida) voting no. The House concurred in the changes by a vote of 80-28.