Michigan HB5854 earmarks withholding tax capture revenues for workforce development HOPE zones.

Michigan HB5854 amends the individual income tax law to earmark withholding tax capture revenues attributable to employees working within HOPE zones into the workforce development HOPE zone fund. This fund supports qualified workforce development organizations through agreements under the HOPE zone act. The bill defines key terms such as "HOPE zone," "qualified workforce development organization," and "withholding tax capture revenues." The amendment takes effect only if Senate Bill No. ____ (request no. S01123'25) or House Bill No. 5852 (request no. H01123'25) is enacted into law.

Michigan HB5854 earmarks withholding tax capture revenues for workforce development HOPE zones.

Michigan HB5854 amends the individual income tax law to earmark withholding tax capture revenues attributable to employees working within HOPE zones into the workforce development HOPE zone fund. This fund supports qualified workforce development organizations through agreements under the HOPE zone act. The bill defines key terms such as "HOPE zone," "qualified workforce development organization," and "withholding tax capture revenues." The amendment takes effect only if Senate Bill No. ____ (request no. S01123'25) or House Bill No. 5852 (request no. H01123'25) is enacted into law.