2024 House Bill 6081

Individual income tax: deductions; deduction from taxable income for distributions from a baby bond trust account for eligible expenditures; provide for.

A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending section 30 (MCL 206.30), as amended by 2023 PA 4.

AI Analysis – Experimental

The bill amends the Income Tax Act of 1967 to redefine taxable income, introduce new deductions, and modify existing laws, with phased implementation of retirement benefit deductions and specific provisions for public service employees.

Introduced in the House

Nov. 13, 2024

Introduced by Rep. Ranjeev Puri (D-24) and three co-sponsors

Co-sponsored by Reps. Jaime Churches (D-27), Donavan McKinney (D-14) and Jasper Martus (D-69)

Referred to the Committee on Appropriations