Economic development: Michigan economic growth authority; definition of new construction under the Michigan economic growth authority act; modify. Amends sec. 3 of 1995 PA 24 (MCL 207.803). TIE BAR WITH: HB 4111'25

HB 4112 amends the Michigan Economic Growth Authority Act to adjust the definition of "authorized business" for tax credit eligibility. The bill allows businesses to count jobs created or maintained by related entities - such as subsidiaries, affiliated businesses, or employee leasing companies - as qualifying for tax credits, without requiring the business itself to directly create or retain those jobs. This change directly affects businesses applying for economic development tax credits under the program, particularly those using third-party employment arrangements. The amendment provides greater flexibility for businesses to meet job creation or retention requirements while maintaining eligibility for tax credits.