Loading chat...
MI SB0970
Bill
AI Summary
- Modifies maximum city income tax rates for cities with populations exceeding 600,000, establishing 2.40% for resident individuals and 1.20% for nonresident individuals beginning January 1, 2013
- Reduces maximum rates to 2.20% for resident individuals and 1.10% for nonresident individuals once a lighting authority's all bonds and obligations are fully paid
- Requires cities forming a lighting authority to deposit revenue from 0.2% of resident tax rate and 0.1% of nonresident tax rate directly into police department budgets to retain or hire police officers until lighting authority debt is eliminated
- Maintains existing requirements for referendum petitions signed by 10-20% of registered electors before ordinance adoption becomes effective
- Effective only upon enactment of House Bill 5688 and House Bill 5705 from the 96th Legislature
Legislative Description
Income tax; city; rollback and maximum tax rate for residents and nonresidents within certain cities; eliminate rollback and reduce rate under certain circumstances. Amends sec. 3, ch. 1 of 1964 PA 284 (MCL 141.503). TIE BAR WITH: HB 5688'12, HB 5705'12
Income tax, rate
Last Action
Assigned Pa 0394'12 With Immediate Effect
12/27/2012
Committee Referrals
Tax Policy12/4/2012
Government Operations6/12/2012
Finance2/15/2012
Full Bill Text
No bill text available