DISTRIBUTION OF INCOME TAX REVENUE S.B. 573:
SUMMARY OF DISCHARGED BILL
Senate Bill 573 (as discharged)
Committee: Appropriations (discharged)
DISTRIBUTION OF INCOME TAX REVENUE S.B. 573:
SUMMARY OF DISCHARGED BILL
Senate Bill 573 (as discharged)
Committee: Appropriations (discharged)
CONTENT
The bill would amend the Income Tax Act to consolidate sections that distribute revenue collected under the Act to various funds. The bill also would repeal certain sections that are no longer effective.
Currently, the Act contains a number of sections that govern the distribution of revenue collected under the Act in fiscal years that have already ended. Two sections, 206.51h and 206.476 never had an impact because the provisions only became effective if the bill took effect before April 18, 2023, and the bill did not take effect until February 13, 2024.
FISCAL IMPACT
The bill would have no impact on State or local revenue or expenditure.
Date Completed: 9-25-25 Fiscal Analyst: David Zin
floor\sb573 Bill Analysis @ www.senate.michigan.gov/sfa This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. |