HOUSE BILL NO. 4263

February 26, 2019, Introduced by Rep. Yaroch and referred to the Committee on Transportation.

A bill to amend 1967 PA 281, entitled

"Income tax act of 1967,"

by amending section 51d (MCL 206.51d), as added by 2018 PA 588.

the people of the state of michigan enact:

Sec. 51d. In addition to the distributions under sections 51, 51e, and 51f, the following amounts of revenue collected from the tax levied under section 51 shall be deposited into the state treasury to the credit of the Michigan transportation fund created in section 10 of 1951 PA 51, MCL 247.660, and disbursed as provided in section 10(1)(l) of 1951 PA 51, MCL 247.660:

(a) Beginning October 1, 2018 through September 30, 2019, $264,000,000.00 $475,000,000.00 unless the minimum foundation allowance falls below the 2017-2018 minimum foundation allowance as provided in section 51(2), then $150,000,000.00.

(b) Beginning October 1, 2019 through September 30, 2020, $468,000,000.00 $600,000,000.00 unless the minimum foundation allowance falls below the 2017-2018 minimum foundation allowance as provided in section 51(2), then $325,000,000.00.

(c) Beginning October 1, 2020 and each October 1 thereafter, $600,000,000.00.