Michigan SB0911 amends the state's individual income tax code to allow deductions for contributions to a Trump account, among other tax adjustments.

Michigan SB0911 amends the state's individual income tax code to allow deductions for contributions to a Trump account, created under section 530A of the Internal Revenue Code, up to $5,000 for single filers and $10,000 for joint filers. The bill also modifies various other deductions and exemptions, including adjustments for gambling losses, contributions to education savings accounts, and retirement or pension benefits. It introduces a Michigan Trump account contribution fund within the state treasury, managed by the state treasurer, to receive and invest contributions.

Michigan SB0911 amends the state's individual income tax code to allow deductions for contributions to a Trump account, among other tax adjustments.

Michigan SB0911 amends the state's individual income tax code to allow deductions for contributions to a Trump account, created under section 530A of the Internal Revenue Code, up to $5,000 for single filers and $10,000 for joint filers. The bill also modifies various other deductions and exemptions, including adjustments for gambling losses, contributions to education savings accounts, and retirement or pension benefits. It introduces a Michigan Trump account contribution fund within the state treasury, managed by the state treasurer, to receive and invest contributions.