Michigan HB5997 modifies income thresholds for property tax credits and homestead property tax credits.

Michigan HB5997 amends sections 520 and 522 of the Michigan Compiled Laws to adjust income thresholds for property tax credits and homestead property tax credits. The bill introduces new income brackets and modifies existing ones, affecting the eligibility and amount of credits available to claimants based on their total household resources. It also adjusts the credit percentages for different income levels and modifies the maximum allowable credit amounts for various tax years.

Michigan HB5997 modifies income thresholds for property tax credits and homestead property tax credits.

Michigan HB5997 amends sections 520 and 522 of the Michigan Compiled Laws to adjust income thresholds for property tax credits and homestead property tax credits. The bill introduces new income brackets and modifies existing ones, affecting the eligibility and amount of credits available to claimants based on their total household resources. It also adjusts the credit percentages for different income levels and modifies the maximum allowable credit amounts for various tax years.