Michigan HB4961 amends the state's individual income tax law to modify the treatment of certain provisions under the Internal Revenue Code and.

Michigan HB4961 amends sections 12, 30, 36, 607, 695, and 805 of the Michigan Compiled Laws to modify the treatment of certain provisions under the Internal Revenue Code and revenue distributions. The bill repeals section 51d of the Michigan Compiled Laws. It adjusts the tax treatment of retirement and pension benefits, education savings accounts, and other income sources. The changes include modifying the deductions for contributions to education savings accounts, ABLE savings accounts, and first-time home buyer savings accounts.

Michigan HB4961 amends the state's individual income tax law to modify the treatment of certain provisions under the Internal Revenue Code and.

Michigan HB4961 amends sections 12, 30, 36, 607, 695, and 805 of the Michigan Compiled Laws to modify the treatment of certain provisions under the Internal Revenue Code and revenue distributions. The bill repeals section 51d of the Michigan Compiled Laws. It adjusts the tax treatment of retirement and pension benefits, education savings accounts, and other income sources. The changes include modifying the deductions for contributions to education savings accounts, ABLE savings accounts, and first-time home buyer savings accounts.