Introduced
by
To exempt from state income tax individual income that comes from a government pension, or up to $51,570 ($103,140 for joint filers, both figures indexed to inflation) in income from retirement savings account distributions (including 401ks and IRAs). Under current law, as enacted as part of a 2011 <a href="http://www.michiganvotes.org/2011-HB-4361">tax reform and business tax cut</a>, taxpayers born before 1946 get these exemptions, those born before 1952 get a partial exemption, and those born later get no exemption.
Referred to the Committee on Tax Policy
Reported without amendment
Referred to the Committee on Ways and Means.
Referred to the Committee on Ways and Means
