MI HB4490

Removes the definition of "senior citizen" from subsection (1)(f)(iv) and adds it to subsection (10)(b), defining it by reference to section 514.

Modifies subsection (1)(p) to limit the senior citizen deduction for interest, dividends, and capital gains to taxpayers born on or before December 31, 1945, making the deduction unavailable to those born after 1945 beginning January 1, 2012 through December 31, 2021.

Applies time limitations to subsection (9)'s three-tier system of retirement and pension benefit deductions, restricting those limitations through December 31, 2021 only.

Eliminates the use of "senior citizen" definition references in subsections (1)(f)(iv) and (1)(p) by striking those references and consolidating the definition in the definitions section.