Introduced
by
To cut the state income tax rate from 4.25% to 3.9% starting Jan. 1, 2022; authorize a $500 tax credit for dependents age 18 and below; and reduce the corporate income tax from 6.0% to 3.9%.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
by
To adopt a version of the bill that does not cut tax rates for businesses.
The substitute failed 16 to 22 (details)
Passed in the Senate 22 to 16 (details)
To cut the state income tax rate from 4.25% to 3.9% starting Jan. 1, 2022; authorize a $600 nonrefundable tax credit for dependents age 18 and below; and reduce the corporate income tax from 6.0% to 3.9%. The bill would also increase the annual income tax deduction allowed for individuals age 67 and above from $20,000 to $30,000, and for couples from $40,000 to $60,000.
Referred to the Committee on Tax Policy
Substitute offered
by
To adopt a version of the bill that does not include the business cut in the Senate-passed version.
The substitute passed by voice vote
Amendment offered
by
To make the retirement income exemption provisions effective in 2022.
The amendment passed by voice vote
Amendment offered
by
To increase the personal exemption in the Michigan income tax from $3,700 to $7,000.
The amendment failed by voice vote
Amendment offered
by
To tie-bar the bill to resolution to create the House Select Committee on Ethics, meaning this bill cannot become law unless that measure does also.
The amendment failed by voice vote
Amendment offered
by
To tie-bar the bill to Senate Bill 417, meaning this bill cannot become law unless that one does also. HB 417 would increase the state income tax earned income tax credit.
The amendment failed by voice vote
Amendment offered
by
To make the bill's increase in retirement income tax exemptions more "progressive," meaning more valuable to taxpayers with lower income levels.
The amendment failed by voice vote
Amendment offered
by
To tie-bar the bill to House Bill 4490, meaning this bill cannot become law unless that one does also. HB 4490 would repeal the age-based limitations and restrictions on income tax deductions for retirement and pension benefits that were enacted as part of a 2011 tax reform and business tax cut.
The amendment failed by voice vote
Amendment offered
by
To authorize state income tax deductions for up to $10,000 in employee bonus income.
The amendment failed by voice vote
Passed in the House 62 to 42 (details)
To cut the state income tax rate from 4.25% to 3.9% starting Jan. 1, 2022; authorize a $500 nonrefundable income tax credit for a taxpayers' dependents who are age 18 and under; and lower from age 67 to age 62 eligibility for certain income tax exemptions on retirement income.
Amendment offered
by
To cut the state business income tax rate from 6% to 3.9%.
The amendment failed 17 to 16 (details)
Passed in the Senate 22 to 15 (details)
To cut the state income tax rate from 4.25% to 3.9% starting Jan. 1, 2022; authorize a $500 nonrefundable income tax credit for a taxpayers' dependents who are age 18 and under; and lower from age 67 to age 62 eligibility for certain income tax exemptions on retirement income.
