This bill proposes to increase Michigan's corporate income tax rate from 6.0% to 10.0% starting on October 1, 2026. It also modifies how the tax base is calculated by adding back certain interest and dividend income while removing deductions for oil and gas production expenses. Additionally, the legislation establishes a specific distribution plan for the revenue collected, directing funds to the general fund, housing initiatives, placemaking projects, and a strategic reserve.
Senate Bill 904 amends Michigan's state school aid act to update how student enrollment and attendance are counted for funding purposes. The bill clarifies rules for counting special education students in center programs and defines specific participation requirements for cyber school students to ensure they are included in membership calculations. By adjusting these definitions, the legislation aims to ensure that state funding is distributed accurately based on the actual number of students being educated in various settings.
HB 5843 is a supplemental appropriations bill that allocates state funds for various departments and agencies in Michigan for the fiscal year ending September 30, 2026. The legislation specifically includes funding to support a state veterans cemetery located in the Upper Peninsula. This bill works in conjunction with HB 5844 to establish the necessary financial resources for these operations.
This bill repeals Michigan's state real estate transfer tax, which previously applied to the sale of property. It includes a provision to ensure that any resulting loss in state revenue is compensated by transferring funds from the state general fund to the school aid fund. The law will only take effect if a separate companion bill, HB 5880, is also passed.
This bill directs the state treasurer to move all interest earned from the countercyclical budget and economic stabilization fund into the child care payment fund. The law requires that interest accumulated between fiscal year 2024 and the bill's effective date be deposited within 90 days, while all future interest must go to the child care fund immediately. These funds are intended to support child care services in Michigan by utilizing earnings from the state's economic stabilization reserve. The legislation is currently tied to Senate Bill 946, meaning it will not become active unless that companion bill is also passed.
Senate Bill 896 amends Michigan's Use Tax Act to clarify and update the list of property and services exempt from the tax. The bill directly affects various businesses and organizations, including vehicle dealers, agricultural enterprises, schools, and religious institutions, by specifying conditions under which they do not owe the tax. Key provisions include maintaining exemptions for items purchased for resale, property used in farming and livestock operations, and goods brought into the state by nonresidents for temporary use. Additionally, the bill sets specific limits on the number of demonstration vehicles new car dealers can purchase tax-free based on their annual sales volume.
SB 913 amends Michigan law to remove the expiration date for a specific requirement to deposit tobacco settlement revenue into the 21st Century Jobs Trust Fund. This change ensures that $75 million of annual tobacco settlement funds must continue to be transferred to the trust through fiscal year 2026, rather than reverting to the state's general fund. The bill directly affects the state treasurer and the department of treasury by clarifying the long-term handling of these funds, which are used for investments and economic development projects. By eliminating the sunset provision, the legislation maintains the flow of money into the trust without altering the existing rules for how the funds are invested or disbursed.
This bill authorizes the Michigan veterans affairs agency to establish a state veterans cemetery in the Upper Peninsula. It requires the agency to conduct a feasibility study to identify a suitable location and ensure the site qualifies for federal funding grants. The legislation allows the agency to purchase or designate state-owned land for the cemetery and creates a dedicated fund to manage money for the project's design, land preparation, and ongoing operation. Additionally, the bill cannot take effect unless it is passed together with a companion bill, HB 5843.
SB 879 is a Michigan state bill that establishes a supplemental budget plan for the 2026-2027 fiscal year. It allocates funds to various state departments, agencies, the judicial branch, and the legislative branch. The bill includes specific conditions on how the appropriated money can be spent and outlines procedures for distributing these funds. This legislation directly impacts state government operations by providing financial resources for their ongoing activities.
This bill establishes the state budget for Michigan's fiscal year 2026-2027, allocating funds to various government departments including the legislature, executive branch, attorney general, and state treasury. It authorizes the expenditure of appropriated funds and outlines how fees and other income collected by state agencies should be handled. The legislation also declares the legal effect of the act, ensuring the budget operates as intended for the specified fiscal year.
