RAISE PERSONAL EXEMPTION



House Bill 4985

Sponsor: Rep. John Freeman

Committee: Tax Policy


Complete to 6-1-98



A SUMMARY OF HOUSE BILL 4985 AS INTRODUCED 6-26-97


The bill would amend the Income Tax Act to raise the personal exemption to $4,000.


(The bill says it would raise the personal exemption from $2,500 for tax years after 1996; however, since the bill was introduced the personal exemption has been indexed for inflation and increased by $200. It is currently $2,800.)


MCL 206.30


























Analyst: C. Couch


This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.