Introduced
by
To revise the provision of Gov. Rick Snyder's <a href="http://www.michiganvotes.org/2011-HB-4361">income tax overhaul and business tax cut</a> that partially eliminated some of the state income tax exemptions for pension income. The bill would authorize a pension income tax deduction for a person born after 1952 who is retired before July 1, 2014, exempting from tax up to $15,000 in pension income for a single return and $30,000 for a joint return. Under the 2011 tax overhaul, older individuals get a partial pension income exemption but those born after 1952 do not.
Referred to the Committee on Tax Policy
