Individual income tax: property tax credit; definition of homestead; modify. Amends sec. 508 of 1967 PA 281 (MCL 206.508).

Summary

The bill modifies Section 508 of the 1967 Property Tax Act, altering how the state’s property‑tax credit is calculated and updating the definition of a homestead. It would affect Michigan taxpayers who claim the credit, potentially changing the credit amount they receive. The change is meant to clarify eligibility and align the credit with current policy goals.

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