SB 0417
Corporate income tax: revenue distribution; earmark for the beverage container handling fund; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695). TIE BAR WITH: SB 416'25
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill changes how Michigan’s corporate income tax revenue is distributed. Initially, for the 2021-2022 fiscal year, a portion of the revenue would be directed to the Michigan Taxpayer Rebate Fund. Starting in the 2022-2023 fiscal year, the revenue will be allocated to the general fund, the Michigan Housing and Community Development Fund, the Revitalization and Placemaking Fund, and the Strategic Outreach and Attraction Reserve Fund, with adjustments over time. Beginning in 2025, a specific amount will be dedicated to the Beverage Container Handling Fund, adjusted for inflation.
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