Michigan HB4187 modifies the distribution of corporate income tax revenue, including to the general fund and specific state funds.

Michigan HB4187 amends the distribution of corporate income tax revenue. For the 2021-2022 fiscal year, $800 million is allocated to the Michigan taxpayer rebate fund. From the 2022-2023 to 2024-2025 fiscal years, up to $1.2 billion goes to the general fund, with additional amounts allocated to the Michigan housing and community development fund, strategic outreach and attraction reserve fund, and state trunk line fund. The remaining revenue is also deposited into the general fund. The bill specifies the distribution percentages for county road commissions and cities and villages.

Michigan HB4187 modifies the distribution of corporate income tax revenue, including to the general fund and specific state funds.

Michigan HB4187 amends the distribution of corporate income tax revenue. For the 2021-2022 fiscal year, $800 million is allocated to the Michigan taxpayer rebate fund. From the 2022-2023 to 2024-2025 fiscal years, up to $1.2 billion goes to the general fund, with additional amounts allocated to the Michigan housing and community development fund, strategic outreach and attraction reserve fund, and state trunk line fund. The remaining revenue is also deposited into the general fund. The bill specifies the distribution percentages for county road commissions and cities and villages.