Bill Text: MI HB4952 | 2011-2012 | 96th Legislature | Chaptered
Bill Title: Income tax; property tax credit; definition of income; clean up. Amends sec. 510 of 1967 PA 281 (MCL 206.510).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2011-10-18 - Assigned Pa 172'11 With Immediate Effect [HB4952 Detail]
Download: Michigan-2011-HB4952-Chaptered.html
Act No. 172
Public Acts of 2011
Approved by the Governor
October 11, 2011
Filed with the Secretary of State
October 13, 2011
EFFECTIVE DATE: January 1, 2012
STATE OF MICHIGAN
96TH LEGISLATURE
REGULAR SESSION OF 2011
Introduced by Rep. Lyons
ENROLLED HOUSE BILL No. 4952
AN ACT to amend 1967 PA 281, entitled “An act to meet deficiencies in state funds by providing for the imposition, levy, computation, collection, assessment, and enforcement by lien and otherwise of taxes on or measured by net income; to prescribe the manner and time of making reports and paying the taxes, and the functions of public officers and others as to the taxes; to permit the inspection of the records of taxpayers; to provide for interest and penalties on unpaid taxes; to provide exemptions, credits and refunds of the taxes; to prescribe penalties for the violation of this act; to provide an appropriation; and to repeal certain acts and parts of acts,” by amending section 510 (MCL 206.510), as amended by 2011 PA 38.
The People of the State of Michigan enact:
Sec. 510. (1) “Income” means the sum of federal adjusted gross income as defined in the internal revenue code plus all income specifically excluded or exempt from the computations of the federal adjusted gross income. Also, a person who is enrolled in an accident or health insurance plan may deduct from income the amount that person paid in premiums in the tax year for that insurance plan for the person’s family. Income does not include any of the following:
(a) The first $300.00 of gifts in cash or kind from nongovernmental sources.
(b) The first $300.00 received from awards, prizes, lottery, bingo, or other gambling winnings.
(c) Surplus foods.
(d) Relief in kind supplied by a governmental agency.
(e) Payments or credits under this part.
(f) A governmental grant that has to be used by the claimant for rehabilitation of the claimant’s homestead.
(g) Stipends received by a person 60 years of age or older who is acting as a foster grandparent under the foster grandparent program authorized pursuant to section 211 of part B of title II of the domestic volunteer service act of 1973, Public Law 93-113, 42 USC 5011, or who is acting as a senior companion pursuant to section 213 of part C of title II of the domestic volunteer service act of 1973, Public Law 93-113, 42 USC 5013.
(h) Amounts deducted from monthly social security or railroad retirement benefits for medicare premiums.
(i) Contributions by an employer to life, accident, or health insurance plans.
(j) Energy assistance grants and energy assistance tax credits.
(2) “Owner” means a natural person who owns or is purchasing a homestead under a mortgage or land contract, who owns or is purchasing a dwelling situated on the leased lands of another, or who is a tenant-stockholder of a cooperative housing corporation.
Enacting section 1. This amendatory act takes effect January 1, 2012.
This act is ordered to take immediate effect.
Clerk of the House of Representatives
Secretary of the Senate
Approved
Governor
