Individual income tax: other; first-time home buyer savings program; extend sunset. Amends sec. 5 of 2022 PA 6 (MCL 565.1005). TIE BAR WITH: HB 5973'26

Summary

The bill amends the 2022 First‑Time Home Buyer Savings Program, allowing individuals to open or keep accounts for buying a single‑family home and extending the program’s deadline to December 31, 2031. It also ties the amendment’s effectiveness to the passage of House Bill 5973. The change mainly affects Michigan residents who want to save for a home purchase.

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