Act No. 44

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. 4483

AN ACT to amend 1927 PA 339, entitled “An act to authorize the establishment of a system of retiring allowances for employes of public libraries now existing or which may hereafter be established in incorporated cities of 250,000 population or more,” by amending section 5 (MCL 38.705).

The People of the State of Michigan enact:

Sec. 5. (1) Except as otherwise provided in this section, if a system of retiring allowances is adopted under this act, the reserve fund created is exempt from all state, county, township, city, village, and school district taxes and the annuities payable to the members of the staff are exempt from all state, county, township, city, village, and school district taxes.

(2) Beginning January 1, 2012, the annuities payable to the members of the staff are subject to state taxes.

This act is ordered to take immediate effect.

Clerk of the House of Representatives

Secretary of the Senate

Approved

Governor