MLive.com: Municipal and school officials want guarantee of funds if Michigan cuts more business taxes

Posted on Thu, Sep 8, 2011 : 5:55 p.m.

Gov. Rick Snyder said he'll explore this fall whether Michigan can cut $1.2 billion in personal property taxes paid by businesses.

That move has the attention of local governments and schools, which now say they want a guarantee that the money that comes to them from that revenue doesn't evaporate, according to a report on MLive.com.

According to the story by Peter Luke: "Local officials want a constitutional amendment that would identify the replacement revenue and earmark it for cities and schools. The bigger question is that after this year’s $1.4 billion shift in tax liability from businesses to individuals, will taxpayers agree to finance still more business tax cuts through an amendment that would require voter approval?"

Read the story.

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