Introduced
by
To increase the $4,000 personal exemption that is currently allowed under the Michigan state income tax. The bill would immediately increase it to $4,300 and then to $4,600 by 2020, which with inflation adjustments is projected to be worth around $5,200 by then. Taxpayers can claim a personal exemption for themselves, their spouse and each dependent, and these are subtracted from the amount of income that is subject to income tax.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-4) be adopted and that the bill then pass.
Amendment offered
by
To clarify that a provision requiring money be allocated to compensate for any revenue decline triggered by the bill apply only to school aid fund revenue declines.
The amendment passed by voice vote
Amendment offered
by
To increase the personal exemption much more by changing the formula used in making inflation adjustments to the exemption amount. This formula essentially serves as an "alternative" exemption-setting device.
The amendment failed by voice vote
Amendment offered
by
To gradually increase the exemption to $4,700 by 2020, and revise an inflation-adjustment formula in the law that would make the exemption worth around $5,400 by then.
The amendment failed by voice vote
Passed in the House 105 to 1 (details)
To increase the $4,000 personal exemption that is currently allowed under the Michigan state income tax. The bill would immediately increase it to $4,300 and then gradually to $4,800 in 2021. Taxpayers can claim a personal exemption for themselves, their spouse and each dependent, and these are subtracted from the amount of income that is subject to income tax. The Senate has passed a version that increases the exemption to $4,700 by 2020.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Referred to the Committee on Appropriations
