Individual income tax: deductions; certain broadband expansion grants; deduct from taxable income. Amends secs. 30, 623 & 815 of 1967 PA 281 (MCL 206.30 et seq.).

Added new deductions for compensation received by Holocaust victims and disabled veterans, expanding tax relief for historically marginalized groups.

Created new deductions for contributions to ABLE savings accounts and first-time home buyer savings accounts, providing tax incentives for financial planning and homeownership.

Eliminated deductions for oil and gas production income and expenses, removing tax preferences for the energy sector.

Modified retirement and pension benefit deduction limits based on taxpayer birth year, with phased elimination of certain deductions for younger retirees.

Added new deductions for tribal members, including nonbusiness income earned by resident tribal members under specific agreements with the state.

Added deductions for wrongful imprisonment compensation and student loan discharge for disabled veterans, providing relief for those affected by these circumstances.

Modified personal exemption amounts and calculation methods, including adjustments for stillbirth certificates and additional exemptions for disabled individuals.

Added deductions for broadband expansion grants received from state, federal, and other sources, encouraging broadband infrastructure development.