MI SB0417

Modifies the distribution of corporate income tax revenue collected under the Income Tax Act of 1967

For fiscal year 2025-2026, allocates $50,000,000 to the Michigan Housing and Community Development Fund, with the balance going to the general fund

Beginning fiscal year 2026-2027, establishes new distribution: $50,000,000 to Michigan Housing and Community Development Fund, then $60,000,000 to the Beverage Container Handling Fund, with remainder to general fund

The $60,000,000 beverage container handling allocation must be adjusted annually for inflation based on the U.S. Consumer Price Index

Takes effect only if Senate Bill No. 416 is enacted and approved by voters at the November 3, 2026 general election