Michigan SB0417 amends corporate income tax revenue distribution to earmark funds for specific state funds.

Michigan SB0417 amends the distribution of corporate income tax revenue. For the 2021-2022 fiscal year, $800 million is earmarked for the Michigan taxpayer rebate fund. Starting from the 2022-2023 fiscal year, up to $1.2 billion is allocated to the general fund, with additional funds directed to the Michigan housing and community development fund, the beverage container handling fund, and the revitalization and placemaking fund. For the 2025-2026 fiscal year, $50 million is allocated to the Michigan housing and community development fund.

Michigan SB0417 amends corporate income tax revenue distribution to earmark funds for specific state funds.

Michigan SB0417 amends the distribution of corporate income tax revenue. For the 2021-2022 fiscal year, $800 million is earmarked for the Michigan taxpayer rebate fund. Starting from the 2022-2023 fiscal year, up to $1.2 billion is allocated to the general fund, with additional funds directed to the Michigan housing and community development fund, the beverage container handling fund, and the revitalization and placemaking fund. For the 2025-2026 fiscal year, $50 million is allocated to the Michigan housing and community development fund.