SB 692 modifies how regional transit authorities in Michigan can raise funds for public transportation. It requires voter approval for local transit taxes through a November election, with ballot measures clearly stating the tax rate, duration, purpose, and whether it's a renewal or new tax. The bill mandates that at least 85% of funds collected from local taxes or vehicle registration fees must be spent on transit services within the community where the money was raised. It also adds new reporting requirements for transit authorities starting January 1, 2027, including annual cost/revenue reports and asset management plans.
HB 4816 creates a new individual income tax credit for Michigan residents who invest in certain Michigan businesses. It directly affects Michigan taxpayers who make qualifying investments in eligible local companies. The bill adds a specific provision to Michigan's tax code allowing these investors to claim a credit against their state income tax. This credit aims to incentivize personal investment in Michigan-based businesses through a direct tax benefit.
HB 4119 exempts sales of large aircraft (over 6,000 pounds) and certain parts/materials attached to them from Michigan's sales tax when used by commercial airlines for passenger or cargo transport. It specifically applies to domestic air carriers operating under federal aviation rules, covering both new aircraft purchases and maintenance-related transactions. Key conditions include requiring aircraft to leave Michigan within 15 days of temporary use (e.g., for evaluation or repairs) and ensuring they were not based or registered in Michigan before or after the transaction. This policy change directly affects commercial airlines and aircraft sellers, reducing tax liability on qualifying equipment purchases and maintenance services.
HB 4513 creates a new tax deduction for income earned from bitcoin mining under Michigan's existing "bitcoin program." It directly affects bitcoin miners operating within Michigan's designated program by allowing them to deduct this income when calculating their state individual income tax. The bill amends specific sections of Michigan's tax code (sections 30, 623, and 815) to add this deduction, making it a concrete policy change for eligible miners. This deduction is separate from other standard tax adjustments detailed in the bill.
HB 4087 establishes a "strategic bitcoin reserve" by adding Section 351a to Michigan's budget act, allowing the state treasurer to invest up to 10% of funds from the general fund or the countercyclical budget fund into cryptocurrency. The bill requires that any cryptocurrency held must be secured through specific custody methods (like secure custody solutions or qualified custodians) and prohibits loans that increase financial risk. It also mandates that crypto payments received by the state be converted to cash and deposited into the general fund, with designated funds reimbursed from that fund. This bill directly affects how the state treasurer manages state funds and handles cryptocurrency transactions, with no impact on individual citizens or businesses.
HB 5235 clarifies who qualifies for Michigan's property tax credit on primary homes by expanding the definition of "owner" to include homeowners who place their homestead in revocable trusts or qualified personal residence trusts. This change directly affects homeowners using these specific trust structures to hold their primary residence, ensuring they remain eligible for the tax credit. The bill modifies existing law to explicitly include grantors (homeowners) who transfer their homestead into such trusts, removing ambiguity about their eligibility. It does not change the credit amount or create new requirements, only defining who qualifies under current rules. The bill is currently in committee review after being introduced in November 2025.
SB 690 expands a state income tax credit for property taxes on farmland and open space protected by conservation agreements, such as agricultural easements or development rights agreements. Eligible farm owners - including those in partnerships, S corporations, life estates, trusts, and limited liability companies - can claim a credit for property taxes exceeding 3.5% of household income. The bill clarifies how the credit is calculated and shared among different ownership structures, requiring specific documentation like partnership agreements or trust terms to claim it. This change directly affects Michigan farmers who have conservation agreements on their land to preserve agricultural use.
HB 5275 modifies Michigan's property tax credit for individual income tax by changing the definition of "disabled veteran" and removing a limit on the credit amount for qualifying veterans. The bill amends sections 506 and 520 of the 1967 Income Tax Act (MCL 206.506, 206.520) to expand eligibility and eliminate a cap previously applied to this credit. This directly affects disabled veterans who claim the property tax credit, allowing them to receive the full credit amount without the prior limitation. The change is a specific policy adjustment to the tax code, not a new benefit.
HB 5272 proposes to create a new property tax credit for disabled veterans and surviving spouses (widows/widowers) of disabled veterans who rent or lease a home in Michigan. It amends Michigan’s income tax law to add this credit and specifically exclude it from the state’s income tax cap. This would directly benefit qualifying renters who are disabled veterans or surviving spouses, providing them with a tax reduction they currently cannot access under existing rules. The bill does not change other tax credits or the overall tax structure.
SB 199 amends Michigan's tax increment financing law to modify funding limits for certain legacy obligations. It specifically restricts the amount of tax increment revenue (revenue from increased property taxes in redevelopment areas) that can be used to pay for ongoing management contracts and professional services established before 1993. The bill phases out these payments annually, starting with $3 million per year for taxes levied through 2009, decreasing to $0 for taxes levied after June 2015. This directly affects municipalities and tax increment authorities that issued or incurred these pre-1993 obligations or related contracts.
