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2014 Senate Bill 752: Increase income tax property tax credit
Introduced by Sen. Dave Hildenbrand (R) on February 4, 2014 To increase the income cap (“household resources” cap) at which the value of a property tax credit a homeowner or renter can claim against his or her state income tax begins to phase-out, from $41,000 to $51,000. The bill would also make more gradual the extent to which each $1,000 in additional income above this amount diminishes the credit. In other words, the bill would reduce the “cliff” effect of a tax reform and business tax cut law that placed new income limits on this credit.   Official Text and Analysis.
Referred to the Senate Finance Committee on February 4, 2014
Reported in the Senate on February 18, 2014 With the recommendation that the substitute (S­1) be adopted and that the bill then pass.
Passed 37 to 1 in the Senate on June 11, 2014.
    See Who Voted "Yes" and Who Voted "No".
To increase the maximum income cap (“household resources” cap) on a property tax credit a homeowner or renter may claim against his or her state income tax begins to phase-out, from $50,000 to $70,000. The vote is part of a deal made with Democrats by Gov. Rick Snyder and Senate Majority Leader Randy Richardville to get their votes on a $1.2 billion fuel tax increase, and will only go into effect if that tax hike is enacted.
Received in the House on December 16, 2014
Referred to the House Tax Policy Committee on December 16, 2014

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