Michigan SB0209 amends individual income tax deductions, including broadband expansion grants.

Michigan SB0209 amends the state's individual income tax laws to allow deductions for certain broadband expansion grants. It modifies existing deductions and exemptions, including adjustments for retirement or pension benefits, contributions to first-time home buyer savings accounts, and education savings accounts. The bill also introduces new deductions for grants aimed at expanding broadband access in Michigan. These changes apply retroactively to tax years beginning on and after January 1, 2023.

Michigan SB0209 amends individual income tax deductions, including broadband expansion grants.

Michigan SB0209 amends the state's individual income tax laws to allow deductions for certain broadband expansion grants. It modifies existing deductions and exemptions, including adjustments for retirement or pension benefits, contributions to first-time home buyer savings accounts, and education savings accounts. The bill also introduces new deductions for grants aimed at expanding broadband access in Michigan. These changes apply retroactively to tax years beginning on and after January 1, 2023.