MI HB4886

Removes the definition of "senior citizen" from section 30 of the Income Tax Act and instead references the definition in section 514 of the tax code.

Adds a new subsection (10) effective January 1, 2022, eliminating age-based restrictions and limitations on retirement or pension benefit deductions for individuals who were already retired and receiving benefits prior to January 1, 2012, regardless of birth year.

Renumbers former subsection (10) to subsection (11) and adds "senior citizen" as a defined term referencing section 514.

Clarifies that individuals retiring before January 1, 2012, are no longer subject to the tiered deduction limits and age restrictions that apply to younger retirees born after 1952.