SB 0151
Individual income tax: rate; rollback of rate to 3.9%; provide for. Amends sec. 51 of 1967 PA 281 (MCL 206.51).
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill proposes to roll back Michigan’s individual income tax rate from its current level to 3.9%. The rate changes would occur incrementally, starting at 3.9% in 2025, with temporary adjustments at various points between 2023 and 2026. Additionally, the bill outlines how a portion of the income tax revenue will be distributed to several state funds, including the state school aid fund and the Renew Michigan fund, with specific amounts and conditions attached.
Sponsors
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Primary sponsor
Cosponsors
Edward W. McBroom
Joseph N. Bellino Jr.
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