Appropriations: supplemental; appropriations for multiple departments and branches for fiscal years 2021-2022 and 2022-2023; provide for.
Approves $1.1 billion in new spending across two of the state’s fiscal years, $706 million of which comes from state taxpayers and $375 million comes from federal taxpayers. The largest expenditures from state taxpayers are for business subsidies, with $250 million going to subsidy programs and $200 million going to an Upper Peninsula paper mill.
Appropriations: supplemental; supplemental appropriations in the school aid act for fiscal years 2021-2022 and 2022-2023; provide for.
Individual income tax: credit; earned income tax credit; restore.
Increases a refundable tax credit based on income and dependents.
Individual income tax: retirement or pension benefits; limitations and restrictions on deductions of certain retirement or pension benefits, revenue distributions, earned income tax credit, rebate payments, rebate and revitalization and placemaking funds; revise, increase, and provide for.
Phases in exemptions for pension income but not other sources of retirement income; increase a refundable tax credit based on income and dependents; and earmark money from the Corporate Income Tax to selective business subsidy programs.