MI HB5100

Adds new deduction for taxpayers receiving grants under the teachers student loan forgiveness program, applicable for tax years beginning January 1, 2022 and later.

Removes effective date restrictions on several existing deductions by eliminating "beginning" or "for tax years" language, making deductions for Michigan National Guard retirement benefits, charitable contributions to education funds, and oil/gas income adjustments applicable without date limitations.

Removes reference to "senior citizen" definition within the taxable income section and relocates the definition to a new subsection in the statute.

Makes technical modifications to clarify that certain education savings account (ABLE) and charitable contribution deductions apply without specific starting dates.

Bill is contingent on enactment of Senate Bill No. ____ or House Bill No. 5099 of the 101st Legislature.