Introduced by Rep. Patrick Somerville (R) on June 12, 2013, to revise the provision of Gov. Rick Snyder's income tax overhaul and business tax cut that partially eliminated some of the state income tax exemptions for pension income. The bill would authorize a pension income tax deduction for a person born after 1952 who is retired before July 1, 2014, exempting from tax up to $15,000 in pension income for a single return and $30,000 for a joint return. Under the 2011 tax overhaul, older individuals get a partial pension income exemption but those born after 1952 do not. Full Text and Analysis.
Referred to the House Tax Policy Committee on June 12, 2013.