Michigan HB4187 amends corporate income tax provisions, adjusting revenue distributions and modifying the Renew Michigan Fund.
Michigan HB4187 amends sections 51, 51g, and 696 of the Michigan Compiled Laws, specifically addressing corporate income tax. It modifies the distribution of revenue from the tax, including deposits into the general fund, Michigan housing and community development fund, and the revitalization and placemaking fund. The bill also adjusts the Renew Michigan Fund, including the lapse of interest and earnings from the fund. The changes apply from the 2022-2023 state fiscal year through the 2024-2025 state fiscal year, with specific allocations outlined for various funds.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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