Morris Hood III voted Yea (Conference Report Vote) on this Legislation.
Title: Income Tax Increase
- Increases income tax to 4.35 percent starting October 1, 2007 [sec. 51 (1)(g)]. - Starting October 1, 2011, income tax gradually lowers back down to 3.9 percent by 2015 [sec. 51 (1)(i)]. - Provides a $250.00 per person exemption for veterans with a disability connected to their service and their dependents [sec. 30 (3)(d)].
Title: Income Tax Increase
Signed by Governor Jennifer Granholm
Title: Income Tax Increase
- Increases income tax to 4.35 percent starting October 1, 2007 [sec. 51 (1)(g)]. - Starting October 1, 2011, income tax gradually lowers back down to 3.9 percent by 2015 [sec. 51 (1)(i)]. - Provides a $250.00 per person exemption for veterans with a disability connected to their service and their dependents [sec. 30 (3)(d)].
Title: Income Tax Increase
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.