Legislation passed earlier this year eliminated the Michigan Business Tax and established instead a new Corporate Income Tax. In so doing, the new law removed most tax credits, including the income tax exemptions previously afforded to businesses and residents within established Renaissance Zones.

On October 12, Senators Hildenbrand (R - 29^th District) and Hansen (R - 37^th District) introduced Senate Bill 748, which would reinstate the income tax exemption for qualified taxpayers who were residing in a Renaissance Zone area prior to the passage of the new Corporate Income Tax law.

Senate Bill 748 has been referred to the Committee on Finance. Michigan Municipal League has stated that it plans to work with Senators Hildenbrand and Hansen toward passage of the bill. For more information about this issue, contact Attorney Andria Ditschman at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Donald B. Lawrence Jr., a shareholder of The Hubbard Law Firm, has been re-elected to his second three-year term to the Board of Directors for DFCU Financial.

"I am very pleased to be privileged to continue my long standing involvement in the credit union movement.  DFCU Financial, the successor to CapCom Credit Union here in Lansing, is the largest credit union in the State of Michigan with assets approaching $3 billion dollars. I was previously a member of the Board of CapCom Credit Union (formerly known as Capital Community Credit Union and Lansing Community Credit Union) for many years prior to its merger with DFCU Financial."

"DFCU Financial has ranked in the Top 10 for financial performance among peer credit unions across the country for nine consecutive years.   In 2009, the credit union issued its fourth consecutive Special Patronage Dividend in excess of $19 million dollars for a total of more than $70 million since 2006.  It is the intent of its Board of Directors and management to continue this practice.  In 2009, the credit union increased average loans by $160 million and average deposits by $441 million.  In 2009 DFCU Financial was named on the Michigan Business & Professional Association's list of the "101 Best and Brightest Companies to Work For "list for the sixth consecutive year.  DFCU Financial was named by the magazine Corp! as a Michigan Economic Bright Spot in 2009 for the second consecutive year.   As of June 15, 2010, DFCU Financial applied to the Michigan Office of Finance & Insurance Regulation ("OFIR") for the merger of MidWest Financial in Ann Arbor with DFCU which upon completion will result in DFCU Financial adding approximately 250 Million in Assets and, most importantly, adding 17,000 members and 5 branch offices in Ann Arbor - one of the best overall economic markets in Michigan - to the continuing success of DFCU Financial. The merger has been approved by the National Credit Union Administration ("NCUA"), is awaiting a vote of the members and final approval by OFIR.  I believe that this merger will be described as 'beneficial to all concerned' upon completion."

Mr. Lawrence, with over 40 years of experience, practices in business/commercial law and estate planning with The Hubbard Law Firm.