Senate Bill 278 amends the State Housing Development Authority Act of 1966 to modify the Michigan Housing and Community Development Fund. It expands the fund's focus to include middle-income households and projects located in downtown areas or adjacent neighborhoods, in addition to existing support for low-income households. The bill revises how the fund's money is allocated, adding considerations for accessible housing and the availability of other funding sources for specific groups, while removing some previous earmarks for rental and homeownership projects. It also enhances public engagement requirements for the fund's biennial allocation plan, mandating virtual participation options and targeted outreach.
SB 967 amends Michigan's income tax law to establish a new state low-income housing tax credit effective for tax years beginning on or after January 1, 2027. This credit is designed for project owners and equity investors who have been allocated funds to support affordable housing developments, allowing them to reduce their state tax liability by the amount of the credit. The bill includes specific rules for claiming the credit, such as requiring the attachment of an allocation form to tax returns, and mandates that the credit be claimed after other tax credits. Additionally, the legislation requires the state department to recapture a portion of the credit from taxpayers if the related federal tax credit is later disallowed or recaptured. If the credit amount exceeds a taxpayer's tax liability for the year, the unused portion can be carried forward for up to 10 years to offset future taxes.
SB 968 amends Michigan's insurance code to allow insurers to claim a credit against a specific tax on foreign insurers that are subject to higher fees or taxes in their home states. This provision, effective for tax years starting on or after January 1, 2027, permits eligible insurers to offset the tax amount equal to the state low-income housing tax credit they would otherwise qualify for. The bill directly affects domestic insurance companies that operate in Michigan and are impacted by discriminatory or excessive tax burdens imposed by other states or countries. It is part of a series of related bills designed to promote interstate business for Michigan insurers while maintaining existing tax structures for those not meeting specific criteria.
Senate Bill 310 establishes the tri-share child care program within the Department of Lifelong Education, Advancement, and Potential, continuing a previous pilot project. It also creates a dedicated tri-share child care fund in the state treasury to support this program. The department will administer this fund, using appropriated money to oversee the program and provide funding to existing child care facilitator hubs. New hubs may also be funded if sufficient resources are available to expand coverage to more counties or serve statewide employers. This aims to support child care access for families and providers.
This bill establishes a supplemental appropriations act for Michigan state departments, agencies, the judicial branch, and the legislative branch for fiscal year 2025-2026. It authorizes funding for various state operations and includes conditions on how the appropriated funds may be spent. The legislation creates the legal framework for distributing and utilizing state money during the specified fiscal year.
This bill appropriates state funding for K-12 public schools, community colleges, and higher education institutions for the 2025-2027 fiscal years. It allocates specific dollar amounts from various state funds to support public school operations, including general funds, transportation, meals, and student support reserves, while also distributing $493 million to community colleges for operational expenses. The legislation establishes spending priorities that require general fund allocations to be used before state school aid funds, and directs any unspent general fund money to a stabilization fund at the end of each fiscal year.
SB 553 amends Michigan's tax increment financing (TIF) law to allow municipalities to fund water resource improvements using TIF revenues. It specifically adds projects like lake management, shoreline protection, stormwater systems, invasive species control, and public access to inland lakes or rivers to the list of eligible TIF activities. Municipalities can now create authorities within designated "water resource improvement districts" (areas near lakes, rivers, or harbors) to finance these projects through captured tax revenues. The bill clarifies definitions for terms like "water resource improvement" and "water resource improvement district" to ensure TIF funds are properly applied to environmental and public access enhancements.
SB 581 updates definitions in Michigan's downtown development law to clarify how tax increment financing (TIF) programs operate. It specifically revises the definition of "downtown district" to allow multiple geographic areas within a business district under certain conditions (like inter-municipal agreements), defines "captured assessed value" for TIF calculations, and limits "catalyst development projects" to one per authority (requiring $300 million+ investment in cities over 600,000 population). These changes directly affect municipalities operating downtown development authorities that use TIF to fund redevelopment. The bill focuses on precise terminology to ensure consistent application of existing TIF rules, without creating new funding mechanisms.
SB 695 allows regional transit authorities in Michigan to charge an extra $1.20 per $1,000 of a vehicle’s value (on top of standard registration fees) for transit funding, but only if approved by voters in a November election. It requires ballot measures to specify how funds will be used and limits spending to transit projects. The tax applies to regular vehicle registrations in transit regions, excluding company test vehicles (e.g., manufacturer-owned vehicles used for testing). It takes effect January 1, 2027, pending approval of related legislation. This change directly affects vehicle owners in participating transit regions through their registration costs.
SB 692 modifies how regional transit authorities in Michigan can raise funds for public transportation. It requires voter approval for local transit taxes through a November election, with ballot measures clearly stating the tax rate, duration, purpose, and whether it's a renewal or new tax. The bill mandates that at least 85% of funds collected from local taxes or vehicle registration fees must be spent on transit services within the community where the money was raised. It also adds new reporting requirements for transit authorities starting January 1, 2027, including annual cost/revenue reports and asset management plans.
