SB-0990, As Passed Senate, October 20, 2016

HOUSE SUBSTITUTE FOR

SENATE BILL NO. 990

A bill to amend 1967 PA 281, entitled

"Income tax act of 1967,"

(MCL 206.1 to 206.713) by adding section 51f.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 51f. After the distributions under sections 51 and 51d,

beginning January 1, 2017 and each January 1 thereafter, of the

revenue collected from the tax levied under section 51 an amount

equal to 2/3 of the immediately preceding calendar year's statewide

aggregate assessments under section 3f(2) of the use tax act, 1937

PA 94, MCL 205.93f, for the same year shall be deposited into the

state treasury to the credit of the Medicaid benefits trust fund

created in section 5 of the Michigan trust fund act, 2000 PA 489,

MCL 12.255, and used solely for the purpose of maintaining

actuarially sound rates for those entities subject to section 3f(2)

of the use tax act, 1937 PA 94, MCL 205.93f.

Enacting section 1. This amendatory act does not take effect

unless all of the following bills of the 98th Legislature are

enacted into law:

(a) Senate Bill No. 987.

(b) Senate Bill No. 988.