Proposed Stock Buyback Ban for Tax Break Recipients in MI

MI to Weigh Ban on Stock Buybacks for Companies Receiving Tax Breaks

Michigan Sen. Mallory McMorrow (D) introduced a bill (SB 783) that would prohibit publicly traded companies receiving economic incentives through the Michigan Strategic Fund from repurchasing their own stock. Violators would have to repay any incentives they received and pay a 10% penalty. (YAHOO! FINANCE, LEXISNEXIS STATE NET)

—Compiled by SNCJ Managing Editor KOREY CLARK

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