MI HB4732

Creates a refugee settlement fund within the state treasury beginning October 1, 2019, funded by income tax revenue collected from taxpayers designated as refugees on their annual returns.

Requires the Department of Treasury to establish procedures for local units of government to apply for reimbursement from the fund for settlement costs associated with refugees residing in their districts.

Authorizes the Department to distribute fund revenue pro rata among applicant local governments if insufficient funds exist to fully reimburse all applications, with up to 5% of deposits available for fund administration costs.

Requires income tax returns for the 2018 tax year and thereafter to include a space for taxpayers to designate refugee status and indicate their local unit of government residence.

Modifies Section 471 to require state income tax instruction booklets to list all available credits and deductions with references to detailed explanations.