MI SB1002

Updates the reference date for the Internal Revenue Code from January 1, 2002 to January 1, 2024 to align with current federal tax law.

Expands the definition of "qualified higher education expenses" to include expenses for fees, books, supplies, and equipment required for registered apprenticeship programs under the National Apprenticeship Act.

Adds qualified education loan repayment (principal and interest) as a permissible use of Michigan education savings account funds.

Removes reference to section 30f of the Michigan Income Tax Act of 1967 and clarifies that only section 30 applies to taxation of education savings account contributions, interest, and withdrawals.

Corrects capitalization of service academy names (Military Academy, Naval Academy, Air Force Academy, Coast Guard Academy, Merchant Marine Academy) to proper title case.