2023 House Bill 5266

Individual income tax: other; child care savings program; create.

A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by amending section 30 (MCL 206.30), as amended by 2023 PA 4.

AI Analysis – Experimental

Creates the Child Care Savings Program Act which allows for the creation of savings accounts at financial institutions to cover eligible child care expenses, facilitating account holders' employment, education, or job search efforts.

Introduced in the House

Oct. 26, 2023

Introduced by Rep. Bill Schuette (R-95) and 10 co-sponsors

Co-sponsored by Reps. Nancy DeBoer (R-86), Tom Kunse (R-100), Matt Bierlein (R-97), Kathy Schmaltz (R-46), Mark Tisdel (R-55), Thomas Kuhn (R-57), Doug Wozniak (R-59), Robert Bezotte (R-50), Jimmie Wilson (D-32) and Jasper Martus (D-69)

Referred to the Committee on Families, Children and Seniors