HB 4143
Corporate income tax: revenue distribution; earmark to the Michigan transportation fund; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes how revenue from the state corporate income tax is distributed. Initially, for the 2021-2022 fiscal year, a portion of the tax revenue would be directed to the Michigan Taxpayer Rebate Fund. Starting in the 2022-2023 fiscal year, the revenue will be allocated to several funds, including the general fund, the Michigan Housing and Community Development Fund, a Revitalization and Placemaking Fund, and a Strategic Outreach and Attraction Reserve Fund. Beginning in the 2025-2026 fiscal year, a significant portion of the revenue will be dedicated to the Michigan Transportation Fund for use by county and city road commissions and municipalities.
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