SB 0209
Individual income tax: deductions; certain broadband expansion grants; deduct from taxable income. Amends secs. 30, 623 & 815 of 1967 PA 281 (MCL 206.30 et seq.).
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies Michigan's individual income tax rules to allow deductions for certain broadband expansion grants. Specifically, it adjusts the calculation of ‘taxable income’ to include gross interest and dividends from out-of-state obligations, taxes on or measured by income, and losses on the sale of U.S. government obligations. It also expands deductions for retirement and pension benefits, adds provisions for charitable contributions to the Michigan Education Trust, and introduces new deductions related to first-time home buyer savings accounts and grants for broadband expansion. The bill also includes adjustments related to the section 22 credit, wagering losses, and other specific income items.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Edward W. McBroom
Cosponsors
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.