Individual income tax: rate; rollback of rate to 3.9%; provide for. Amends sec. 51 of 1967 PA 281 (MCL 206.51).

SB 151 reduces Michigan's individual income tax rate from 4.25% to 3.9%, effective January 1, 2025. This change applies to all individual taxpayers filing Michigan income tax returns under the current tax code. The bill amends Section 51 of the 1967 Income Tax Act to establish this new rate for tax years beginning on or after January 1, 2025. It does not alter other provisions of the tax code, such as school aid fund deposits or agricultural preservation fund allocations.