MI SB0209

Allows individuals, corporations, and flow-through entities to deduct grant money received for broadband expansion in Michigan from their state taxable income, effective retroactively for tax years beginning on and after January 1, 2023

Eligible grants include those from 13 specific federal and state programs, including the Broadband Expansion Act of Michigan, BEAD program, Connect America Fund, Rural Digital Opportunity Fund, ReConnect program, and Coronavirus Capital Projects Fund

Requires taxpayers to add back to taxable income any expenses (including depreciation) attributable to the deducted broadband expansion grants

Makes technical corrections removing outdated date references (such as "Beginning January 1, 2012" or "Beginning January 1, 2019") from various existing tax deduction provisions

Updates statutory citation for the federal Social Security Act from "chapter 531, 49 Stat 620" to "42 USC 301 to 1397mm" throughout the income tax code