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SB 344

Individual income tax: property tax credit; credit percentages; modify. Amends secs. 508, 510 & 522 of 1967 PA 281 (MCL 206.508 et seq.). TIE BAR WITH: SB 345'25

2025-2026 Regular Session Introduced by Sarah Anthony and 10 co-sponsors

SB 344 adjusts Michigan property tax credit percentages under state income tax law, changing tax relief amounts for homeowners and renters with unclear revenue and distributional consequences.

REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
#individualincometax:propertytaxcredit
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Bill Summary · SB 344

Legislative bill overview

SB 344 modifies Michigan's property tax credit system by adjusting the credit percentages available to individual income taxpayers under the 1967 Michigan Tax Code. The bill is tied to companion legislation (SB 345) and affects how much tax relief homeowners and renters can claim for property taxes paid.

Why is this important

Property tax credits directly impact household finances by reducing state income tax liability based on property tax burden. Changes to credit percentages affect which income levels benefit most and how much overall tax relief the state provides, influencing both household budgets and state revenue.

Potential points of contention

  • Revenue impact uncertainty - Modifying credit percentages will change state tax collections, but the bill summary doesn't specify whether credits increase (reducing revenue) or decrease (raising revenue)
  • Distributional effects - Adjustment to credit percentages may shift benefits between income groups, potentially helping some taxpayers while reducing relief for others
  • Tie-bar dependency - The bill's true effects cannot be evaluated independently since it's linked to SB 345, making separate analysis incomplete without reviewing both bills together

Compiled from official sources — confirm details with the bill’s official record.

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