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MI HB5382
Bill
Status
2/18/2016
Primary Sponsor
Alton Pscholka
Click for details
AI Summary
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Amends the 1967 Michigan Income Tax Act to earmark $36,000,000 annually from income tax revenue to the community district education trust fund
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Distribution applies beginning October 1, 2016 and continuing each October 1 through September 30, 2026
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Funds are deposited to the trust fund created under section 12 of the Michigan Trust Fund Act (2000 PA 489, MCL 12.262)
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Remaining revenue after the $36,000,000 allocation is distributed to the state general fund
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Bill effectiveness is contingent upon passage of a companion bill (referenced as Senate Bill No. ____ or House Bill No. ____)
Legislative Description
Individual income tax; collections; earmark to community district education trust fund; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695) & adds sec. 51f. TIE BAR WITH: HB 5383'16
State financing and management: funds
Last Action
Re-referred To Committee On Appropriations
9/7/2016