A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending sections 30 and 51 (MCL 206.30 and 206.51), section 30 as amended by 2022 PA 5 and section 51 as amended by 2020 PA 75.
Lowers the income tax rate from 4.25% to 4.1%, exempt pensions and increase the amount that pensions are exempt, increase exemptions for each person in a household, increase deaf person and veteran exemptions, and increase the amount that seniors can exempt from income taxes each year to the rate of inflation.
Introduced
by
Referred to the Committee on Finance, Insurance, and Consumer Protection
