Individual income tax: other; definition of internal revenue code under the MiABLE program; update. Amends sec. 2 of 2015 PA 160 (MCL 206.982).

SB 1000 updates the definitions used in Michigan's ABLE program, which helps individuals with disabilities save money for expenses like housing and education. The bill specifically clarifies how the state interprets federal tax laws by setting the reference date for the Internal Revenue Code to January 1, 2024, or allowing taxpayers to choose the current year's version. This change ensures that the program's rules align with the most recent federal guidelines regarding who qualifies for the account and what expenses are covered. As a result, residents of Michigan and other states with similar programs can continue to use their savings accounts without confusion over outdated tax definitions.