Individual income tax: property tax credit; homestead property tax credit; increase, and modify income threshold. Amends secs. 520 & 522 of 1967 PA 281 (MCL 206.520 & 206.522).

Summary

The bill updates sections 520 and 522 of the 1967 Income Tax Act, increasing the income thresholds that determine eligibility for the individual and homestead property tax credits. It affects Michigan taxpayers who claim these credits by potentially expanding the pool of qualifying residents. The measure is currently referred to committee.

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