In This Issue:
- Update from Washington D.C.
- Protecting Manufacturing Research & Development
- Follow The Money – American Rescue Plan Act Tracker Now Available
- Michigan Afflicted Business Relief Grant Program Applications Due March 31
- Current State Legislation Of Interest
Update from Washington D.C.
Latest Russia & Ukraine News
Our partners at the U.S. Chamber of Commerce are continuing to monitor the situation in Ukraine as it unfolds, particularly the sanctions being imposed on Russia by the U.S. and our allies. The U.S. Chamber’s International Division has prepared a summary of the situation, which can be viewed below
Protecting Manufacturing Research & Development
The Lansing Regional Chamber of Commerce (LRCC) signed onto a letter with the Capital Region Manufacturing Council and the National Association of Manufacturers urging Congress to take immediate action to reverse a tax change that threatens innovation and jobs in America. The letter is available below.
Follow The Money – American Rescue Plan Act Tracker Now Available
The Brookings Institution has put together an online resource to explain how large cities and counties (250K+ population) are spending the American Rescue Plan Act state and local recovery fund dollars.
Update from the State Capitol
Michigan Afflicted Business Relief Grant Program Applications Due March 31
The Michigan Department of Treasury is administering a $409 million business grant relief program designed to help Michigan businesses that have experienced financial hardship due to the COVID-19 pandemic.
- Under the Afflicted Business Relief Grant Program, eligible businesses in operation before Oct. 1, 2019 may receive a percentage of their loss in total state sales.
- Eligible businesses that began operating between Oct. 1, 2019 and June 1, 2020 may receive a grant equal to 25% of certain specified costs.
- Eligible businesses applying for a grant will be required to include tax and other financial information and documentation to support their claims.
- Businesses must submit a completed online application to the state Treasury Department no later than 11:59 p.m. EST on Thursday, March 31.
- The application is available below.
- Grant awardees will be notified in the spring and grant awards will be distributed by July 1.
- Additional information on the Afflicted Business Relief Grant Program is available online: www.michigan.gov/abr.
- Individuals with questions should email: Treasfirstname.lastname@example.org.
Current State Legislation of Interest
The LRCC is currently following several pieces of legislation. Below are a few key pieces of legislation we would like to highlight.
- House Bill (HB) 5524 – Passed by the State House of Representatives in late January 2022, HB 5524 would provide $184.6 million from the federal COVID-19 relief funds for several COVID-19 relief programs, and license and fee relief offsets. $53 million of the $184.6 million would go toward an Affected Health and Fitness Industry Business Relief program to provide grants to health/fitness industry businesses in Michigan impacted by the pandemic. Chamber Policy: Economic Development & Job Creation
- House Bill (HB) 5080–5081 – Passed by the State House of Representatives and now in the Senate Finance Committee, HB 5080 – 5081 would work together to amend the General Sale Tax and the Use Tax acts to exempt certain delivery and installation prices if those charges were separately stated on the invoice, bill of sale or similar document given to the buyer. Chamber Policy: Regulations
- Senate Bill (SB) 768 – Passed by the Senate Finance Committee, SB 768 would amend the Income Tax Act to do the following: reduce the individual income tax from 4.25% to 3.9%, reduce the corporate income tax from 6.0% to 3.9%, and provide additional claims on qualified dependents. The LRCC supports and is part of the EITC Coalition. Read the letter below. Chamber Policy: Regulations
- Senate Bill (SB) 565 – Passed by the State Senate and now in the State House of Representatives, SB 565 provides $3.3 billion in federal funding to address several issues related to water, including infrastructure, dams, lead, PFAs, wastewater, drinking water, etc. Chamber Policy: Infrastructure
If you have any legislation you are following or are interested in having the LRCC’s Policy Committee review, please send a communication to Steve Japinga, senior vice president, public affairs, LRCC, at email@example.com.