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MI HB6309

Bill

Official Source

Status

Introduced

7/1/2010

Primary Sponsor

Tim Melton

Click for details

Origin

House of Representatives

95th Legislature

AI Summary

HB 6309 Summary

  • Amends the Michigan Income Tax Act of 1967 to allow taxpayers to deduct closing costs and real estate commissions paid when selling their principal residence for tax years beginning after December 31, 2008.

  • Defines "principal residence" using the general property tax act definition and requires the property to be exempt from taxation under that act.

  • Makes this deduction effective only if companion legislation (Senate Bill or House Bill 6308) is enacted into law.

Legislative Description

Income tax; deductions; closing costs and real estate commissions on sale of a taxpayer's principal residence; provide for. Amends sec. 30 of 1967 PA 281 (MCL 206.30). TIE BAR WITH: HB 6308'10

Income tax, deductions

Last Action

Printed Bill Filed 07/02/2010

7/21/2010

Committee Referrals

Tax Policy7/1/2010

Full Bill Text

No bill text available