MI SB1013

Adds new deduction for unemployment benefits received in tax years beginning January 1, 2022 or later, allowing taxpayers to deduct unemployment benefits to the extent included in adjusted gross income.

Clarifies that the deduction applies to benefits received under any state or federal unemployment benefit program.

Makes technical updates to the Michigan first-time home buyer savings program references by citing 2022 PA 6, MCL 565.1001 to 565.1013.

Maintains all existing tax deductions and exemptions while expanding the types of income eligible for exclusion from state taxable income.