2017 Senate Bill 511

Give tax breaks to some home buyers

Introduced in the Senate

July 12, 2017

Introduced by Sen. Peter MacGregor (R-28)

To authorize a $5,000 state income tax exemption, and $10,000 for joint filers, if the income is contributed to a specialty savings account for home purchases by individuals who have not bought or owned a home in the past three years (dubbed by the bill a "first time home buyer"). Up to $50,000 could be contributed over time for purposes of buying a principal residence.

Referred to the Committee on Finance

Nov. 9, 2017

Reported without amendment

With the recommendation that the bill pass.

Dec. 12, 2017

Amendment offered

To cap the total amount of tax exemptions an account holder could claim for contributions at $50,000.

The amendment passed by voice vote

Dec. 13, 2017

Passed in the Senate 37 to 1 (details)

Received in the House

Dec. 13, 2017

Referred to the Committee on Tax Policy

May 2, 2018

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Nov. 28, 2018

Substitute offered by Rep. Jim Tedder (R-43)

To replace the previous version of the bill with one that revises details but does not change the substance as previously described.

The substitute passed by voice vote

Nov. 29, 2018

Passed in the House 90 to 19 (details)

To authorize a $5,000 state income tax exemption, and $10,000 for joint filers, if the income is contributed to a specialty savings account for home purchases by individuals who have not bought or owned a home in the past three years (dubbed by the bill a "first time home buyer"). Up to $50,000 could be contributed over time for purposes of buying a principal residence.

Received in the Senate

Dec. 4, 2018

Passed in the Senate 35 to 0 (details)

To concur with the House-passed version of the bill.

Vetoed by Gov. Rick Snyder

Dec. 21, 2018