Michigan SB1072 earmarks income tax revenue for the Michigan Innovation Fund Program within the 21st Century Jobs Trust Fund.
Michigan SB1072 amends the state's individual income tax law to earmark a portion of the collected revenue for the Michigan Innovation Fund Program. Specifically, it mandates that from the 2026-2027 through the 2030-2031 state fiscal years, $30,000,000.00 must be deposited into the 21st Century Jobs Trust Fund. This fund is established under the Michigan Trust Fund Act and is intended to support job creation and economic development initiatives.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.