Individual income tax: other; definition of internal revenue code under the MiABLE program; update. Amends sec. 2 of 2015 PA 160 (MCL 206.982).

This bill updates the definition of the "internal revenue code" within Michigan's ABLE savings program to ensure it references the correct version of federal tax law. By specifying that the code is the United States Internal Revenue Code of 1986 as of January 1, 2024, or the version in effect for the current year, the legislation clarifies which federal rules apply to the program. This change directly affects individuals who use ABLE accounts to save for disability-related expenses, ensuring their accounts align with current federal tax definitions. The update helps maintain consistency between state and federal regulations governing these savings plans.