A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending section 51 (MCL 206.51), as amended by 2023 PA 4.
Senate Bill 874 would earmark asset-based and management fees from MiABLE accounts to the MiABLE fund created by Senate Bill 873. It also includes provisions for adjusting amounts based on the Consumer Price Index and defines terms related to the Michigan ABLE program. The bill outlines tax computation methods for nonresidents and trust beneficiaries and states that the enactment of this bill is contingent upon the passage of Senate Bill 873.
Introduced
by
Referred to the Committee on Finance, Insurance, and Consumer Protection
