Individual income tax: revenue distributions; earmark for MiAble fund; provide for. Amends sec. 51 of 1967 PA 281 (MCL 206.51). TIE BAR WITH: SB 556'25

SB 555 amends Michigan's income tax law to require that starting October 1, 2025, a minimum of $300,000 annually (or the actual fees charged for MiABLE accounts, whichever is greater) from individual income tax revenue be deposited into the MiABLE fund. This fund helps Michigan residents with disabilities save for qualified expenses without losing public benefits. The deposit amount will be adjusted yearly for inflation, but not below zero if inflation is negative. The bill directly affects MiABLE account holders and ensures dedicated funding for this disability savings program.