WeVote
Log In

Bill

Bill

SB 472

Individual income tax: revenue distributions; earmark of withholding tax capture revenues into the more jobs for Michigan fund; provide for. Amends secs. 51f & 711 of 1967 PA 281 (MCL 206.51f & 206.711).

2025-2026 Regular Session Introduced by Sam Singh

Michigan bill redirects portion of income tax withholdings into dedicated economic development fund, potentially reducing general revenue while prioritizing job creation initiatives.

REASSIGNED TO COMMITTEE ON REGULATORY AFFAIRS
#individualincometax:revenuedistributions
0
WeVote Research Nonpartisan
Bill Summary · SB 472

Legislative bill overview

SB 472 modifies Michigan's individual income tax code to earmark a portion of withholding tax revenues into a dedicated "More Jobs for Michigan Fund." The bill amends sections of the 1967 Public Act 281 that govern tax revenue distributions and withholding procedures, creating a separate funding mechanism for economic development or job creation initiatives.

Why is this important

This bill redirects existing tax revenue streams rather than creating new taxes, which affects how Michigan allocates resources between general operations and economic development. The approach could influence state budgeting priorities, potentially impacting funding for other services while theoretically supporting job creation programs.

Potential points of contention

  • Revenue allocation trade-offs: Earmarking withholding tax revenues reduces flexibility in the general fund, potentially limiting resources for education, healthcare, infrastructure, or other services unless offset by other changes
  • Fund effectiveness uncertainty: The bill doesn't specify how the "More Jobs for Michigan Fund" will operate, what programs it will support, or measurable outcomes, making it unclear whether earmarking will achieve intended economic benefits
  • Fiscal impact details: The exact amount of withholding revenue affected and the fund's spending mechanism aren't detailed in this bill summary, leaving questions about the budgetary consequence

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

Sign in to ask a question.