Bill Text: MI HB4263 | 2019-2020 | 100th Legislature | Introduced

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Bill Title: Individual income tax: collections; earmark to the Michigan transportation fund; increase and accelerate. Amends sec. 51d of 1967 PA 281 (MCL 206.51d).

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-02-26 - Bill Electronically Reproduced 02/26/2019 [HB4263 Detail]

Download: Michigan-2019-HB4263-Introduced.html

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HOUSE BILL No. 4263

 

 

February 26, 2019, Introduced by Rep. Yaroch and referred to the Committee on Transportation.

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

by amending section 51d (MCL 206.51d), as added by 2018 PA 588.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 51d. In addition to the distributions under sections 51,

 

51e, and 51f, the following amounts of revenue collected from the

 

tax levied under section 51 shall be deposited into the state

 

treasury to the credit of the Michigan transportation fund created

 

in section 10 of 1951 PA 51, MCL 247.660, and disbursed as provided

 

in section 10(1)(l) of 1951 PA 51, MCL 247.660:

 

     (a) Beginning October 1, 2018 through September 30, 2019,

 

$264,000,000.00 $475,000,000.00 unless the minimum foundation

 

allowance falls below the 2017-2018 minimum foundation allowance as

 

provided in section 51(2), then $150,000,000.00.

 

     (b) Beginning October 1, 2019 through September 30, 2020,

$468,000,000.00 $600,000,000.00 unless the minimum foundation

 

allowance falls below the 2017-2018 minimum foundation allowance as

 

provided in section 51(2), then $325,000,000.00.

 

     (c) Beginning October 1, 2020 and each October 1 thereafter,

 

$600,000,000.00.