Introduced
by
To repeal the provision of Gov. Rick Snyder's <a href="http://www.michiganvotes.org/2011-HB-4361">tax reform and business tax cut</a> that partially eliminated some of the state income tax exemptions for pension income, and capped the value of income tax credits granted for payment of “homestead” property tax.
Referred to the Committee on Tax Policy
Substitute offered
by
To replace the previous version of the bill with one that revises details so it conforms with proposals in the Fall, 2015 road funding package passed by the House (contained mainly in House Bills 4736, 4738 and 4370).
The substitute passed by voice vote
Amendment offered
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To index the dollar amount provisions in the bill to inflation.
The amendment passed by voice vote
Amendment offered
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To restrict the earmarked money to road repair projects only, and not to municipal bus and "transit" system subsidies.
The amendment passed by voice vote
Amendment offered
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To strip out the provisions earmarking some future income tax revenue to road repairs.
The amendment failed by voice vote
Amendment offered
by
To reduce the amount of the proposed earmarks of future income tax revenue to road repairs to $200 million annually starting in 2018.
The amendment failed by voice vote
Passed in the House 62 to 44 (details)
To earmark $600 million in state income tax revenue to road repairs starting in 2020, and smaller amounts starting in 2018. This would reduce the rate of increase in other state spending. Also, to raise the household income limit on eligibility for a "homestead property tax credit" that homeowners and renters can claim on their state income tax, from $50,000 to $60,000. Also, to slightly increase the value of the credit; raise the maximum credit amount from $1,200 to $1,500; reduce the "property taxes as a percentage of household resources" limit used in calculating the amount of a taxpayer's credit; and index these dollar amounts to inflation. The homestead credit reduces a person's state income tax liability based their principle residence property tax payments. The bill is intended to offset around $200 million of the $600 million of gas tax and vehicle registration tax hikes included in a House road funding proposal.
Referred to the Committee of the Whole
Passed in the Senate 28 to 10 (details)
To earmark $600 million in state income tax revenue to road repairs starting in 2020, and smaller amounts starting in 2018. This would potentially reduce the rate of increase in other state spending. Also, to expand a "homestead property tax credit" that homeowners and renters can claim on their state income tax by raising property value and household income caps that limit eligibility, and index these amounts to inflation. The tax credit provision is intended to offset around $200 million of the $600 million of gas tax and vehicle registration tax hikes approved by the legislature.
Passed in the House 62 to 45 (details)
To concur with the Senate-passed version of the bill, which advances by one year the start of indexing of income and property value caps in the homestead tax credit.
