The House held no votes last week due to COVID absences, and the Senate voted on just one bill of general interest, which is described below.

House Bill 4290, Give $50,000 tax exemptions to some individual home buyers: Passed 38 to 0 in the Senate

To grant $5,000 state income tax exemptions, and $10,000 on joint returns, if the money is deposited in a specialty savings account for individuals who have not bought or owned a Michigan home in the past three years (labeled by related bills as “first time home buyers”). The exemptions could be claimed for up to five years, meaning $50,000 could be exempted from state income tax liability over time by individuals who can afford to do so. Legislative fiscal agency analysts estimate the bill will provide up to $19.8 million in benefits for these individuals, with an equivalent amount of revenue foregone by the state. A version of this proposal was vetoed by Republican Gov. Rick Snyder in 2018.

Sen. Ed McBroom, R – Vulcan , Yes

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Source: MichiganVotes.org, a free, non-partisan website created by the Mackinac Center for Public Policy, providing concise, non-partisan, plain-English descriptions of every bill and vote in the Michigan House and Senate.