Bill Text: MI HB4482 | 2011-2012 | 96th Legislature | Chaptered

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Bill Title: Retirement; legislative; tax exemption for pensions; eliminate. Amends sec. 57 of 1957 PA 261 (MCL 38.1057).

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2011-05-26 - Assigned Pa 43'11 With Immediate Effect [HB4482 Detail]

Download: Michigan-2011-HB4482-Chaptered.html

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Act No. 43

Public Acts of 2011

Approved by the Governor

May 25, 2011

Filed with the Secretary of State

May 25, 2011

EFFECTIVE DATE: May 25, 2011

STATE OF MICHIGAN

96TH LEGISLATURE

REGULAR SESSION OF 2011

Introduced by Rep. Gilbert

ENROLLED HOUSE BILL No. 4482

AN ACT to amend 1957 PA 261, entitled “An act for the creation, maintenance, and administration of a legislative members’ and presiding officers’ retirement system within the legislature; to provide retirement allowances to the participants of the retirement system, and survivors’ allowances and other benefits to their beneficiaries upon death; to exempt those allowances and benefits from certain taxes and legal processes; to establish certain funds in connection with the retirement system; to authorize and make appropriations for the retirement system; to prescribe the powers and duties of certain state departments, agencies, officials, and employees; and to prescribe penalties and provide remedies,” by amending section 57 (MCL 38.1057), as amended by 2002 PA 97.

The People of the State of Michigan enact:

Sec. 57. (1) Except as otherwise provided in this section, all retirement allowances and other benefits payable under this act and all accumulated credits of members, deferred vested members, and retirants in this retirement system are not subject to taxation by this state or any political subdivisions of this state.

(2) Beginning January 1, 2012, all retirement allowances and other benefits payable under this act and all accumulated credits of members, deferred vested members, and retirants in this retirement system are subject to taxation by this state upon distribution to a member, deferred vested member, or retirant.

(3) All retirement allowances and other benefits payable under this act and all accumulated contributions of members, deferred vested members, and retirants in this retirement system are subject to the public employee retirement benefit protection act, 2002 PA 100, MCL 38.1681 to 38.1689.

This act is ordered to take immediate effect.

Clerk of the House of Representatives

Secretary of the Senate

Approved

Governor