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Bill > HB4747
MI HB4747
MI HB4747Individual income tax: deductions; deduction for contributions made to any 529 education savings plan; provide for. Amends sec. 30 of 1967 PA 281 (MCL 206.30).
summary
Introduced
07/29/2025
07/29/2025
In Committee
09/16/2025
09/16/2025
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 1967 PA 281, entitled"Income tax act of 1967,"by amending section 30 (MCL 206.30), as amended by 2023 PA 4.
AI Summary
This bill modifies Michigan's income tax law to expand tax deductions for contributions to 529 education savings plans. Beginning on January 1, 2026, taxpayers will be able to deduct contributions made to qualified tuition programs established and maintained by other states, in addition to existing deductions for Michigan education savings accounts. The bill allows a maximum deduction of $5,000 for single returns and $10,000 for joint returns per tax year. Importantly, the bill also includes provisions for tracking distributions from these out-of-state 529 plans, requiring taxpayers to subtract any distributions that are not subject to penalty or excise tax. This change will provide Michigan taxpayers with more flexibility in saving for education expenses by allowing tax deductions for contributions to 529 plans from states other than Michigan, potentially encouraging more education savings and providing additional tax benefits for families planning for educational expenses.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred To Second Reading (on 09/16/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4747 |
| Fiscal Note/Analysis - House: Revised Summary as Introduced | https://legislature.mi.gov/documents/2025-2026/billanalysis/House/pdf/2025-HLA-4747-CLY95G71.pdf |
| Fiscal Note/Analysis - House: Summary as Introduced | https://legislature.mi.gov/documents/2025-2026/billanalysis/House/pdf/2025-HLA-4747-KQJLMDXB.pdf |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/House/htm/2025-HIB-4747.htm |
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