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MI HB4986
Bill
Status
9/19/2017
Primary Sponsor
David Maturen
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AI Summary
HB4986 Summary
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Establishes definition of "disabled veteran" meeting one of three criteria: 100% VA disability rating, certificate for specially adapted housing assistance, or VA rating as individually unemployable.
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Eliminates taxable value caps ($135,000 threshold) on homestead property tax credits for disabled veterans and their surviving spouses beginning in tax year 2018, while keeping cap for other claimants.
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Provides disabled veterans and surviving spouses of disabled veterans with 100% property tax credit on homesteads (or 23% of gross rent for renters) for tax years after 2017, with no income limitations.
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Repeals the disabled veterans property tax exemption under MCL 211.7b effective December 31, 2017, replacing it with the enhanced income tax credit system.
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Increases rental credit percentage from 20% to 23% of gross rent for all claimants in tax years after 2017.
Legislative Description
Individual income tax; property tax credit; disqualifiers and limitations on property tax credit for disabled veterans; eliminate, and repeal disabled veterans property tax exemption. Amends secs. 506, 520 & 522 of 1967 PA 281 (MCL 206.506 et seq.) & repeals sec. 7b of 1893 PA 206 (MCL 211.7b).
Veterans: other
Last Action
Referred To Second Reading
12/12/2018