MI HB5924

Amends the Michigan Income Tax Act to add a new distribution mechanism for income tax revenues beginning October 1, 2012.

Directs a percentage of net income tax revenues equal to the positive net percentage change in Michigan's labor force rate (as determined by the U.S. Bureau of Labor Statistics for the preceding 12 months) to be deposited into the state trunk line fund.

Maintains existing income tax rates (4.25% beginning January 1, 2013) and existing distributions to the state school aid fund under current formulas.

Establishes that the trunk line fund distribution only applies when labor force growth is positive; no distribution occurs during periods of labor force decline.