MI HB4109

Amends the Income Tax Act of 1967 to modify personal exemption deductions for Michigan state income tax purposes beginning in 2012 and thereafter.

Allows taxpayers to claim the greater of either the amount calculated under section 30(2) or a specified fixed amount multiplied by the number of personal or dependency exemptions allowed on their federal tax return.

Sets personal exemption deduction at $3,950 per exemption for tax year 2012 through December 31, 2013.

Increases personal exemption deduction to $4,000 per exemption beginning January 1, 2014 through December 31, 2016.

Increases personal exemption deduction to $4,400 per exemption beginning January 1, 2017 and for each subsequent tax year.