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MI HB5514
Bill
Status
5/1/2014
Primary Sponsor
Dian Slavens
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AI Summary
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Adds new deduction for 2014 tax year and thereafter allowing taxpayers to deduct the value of medals awarded or prize money received from the United States Olympic Committee for competing in the Olympic games, to the extent included in adjusted gross income.
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Makes technical corrections including changing "beginning" to "Beginning" in subsection (1)(e)(iii) regarding Michigan National Guard retirement benefits.
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Makes grammatical corrections changing "that" to "who" in multiple subsections describing persons eligible for various deductions and exemptions.
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Corrects reference from "chapter 531" to "chapter 532" in subsection (9)(d) regarding federal social security act citations.
Legislative Description
Individual income tax; deductions; value of medals and prize money won at the Olympic games; provide for. Amends sec. 30 of 1967 PA 281 (MCL 206.30).
Recreation, athletics and sports
Last Action
Printed Bill Filed 05/02/2014
5/6/2014