Bill
HB 4143
Overview: HB 4143, Corporate income tax: revenue distribution; earmark to the Michigan transportation fund; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695), bill electron
Overview: HB 4143, Corporate income tax: revenue distribution; earmark to the Michigan transportation fund; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695), bill electronically reproduced 02/26/2025, March 10, 2025
Purpose and Intent: This bill aims to allocate a portion of the revenue generated from the state's corporate income tax to the Michigan Transportation Fund, which supports the maintenance and improvement of the state's transportation infrastructure.
Key Provisions:
- Amends the existing corporate income tax law to earmark a percentage of the revenue collected to the Michigan Transportation Fund
- Specifies the formula for the revenue distribution, ensuring a stable and dedicated funding source for transportation projects
- Requires the Michigan Department of Treasury to calculate and transfer the designated corporate income tax revenue to the Michigan Transportation Fund on a regular basis
Affected Parties and Impacts: The primary affected parties are the state government, which will see a shift in the allocation of corporate income tax revenue, and the Michigan Department of Transportation, which will receive additional funding for transportation infrastructure projects. Businesses and taxpayers may also be impacted by the changes in the corporate income tax distribution.
Procedural and Timeline Considerations: The bill has been electronically reproduced and is currently in the legislative process. If passed, the new revenue distribution formula would be implemented, and the designated corporate income tax revenue would begin flowing to the Michigan Transportation Fund within a specified timeframe.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
