Individual income tax: revenue distributions; earmark to 21st century jobs trust fund for the Michigan innovation fund program; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695) & adds sec. 51i. TIE BAR WITH: SB 1073'26

This bill directs a portion of Michigan's individual income tax revenue to the 21st Century Jobs Trust Fund to support the Michigan Innovation Fund program. It establishes a mandatory deposit of $30 million annually into this fund for the 2026-2027 and 2027-2028 fiscal years, with ongoing contributions of $5 million per year beginning in 2029-2030. The legislation also updates the state's existing tax revenue distribution schedule to include these new allocations alongside contributions to other funds like those for housing, roads, and general operations. Importantly, the bill does not take effect unless a companion bill, SB 1073, is also passed into law.