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House passes technical fix to preserve Michigan Home Heating Tax Credit’s inflation adjustment
Summary
The Michigan House on Aug. 15 passed House Bill 4543, a technical change to ensure the Michigan Home Heating Tax Credit continues to be adjusted for inflation after the Detroit CPI was discontinued by the Bureau of Labor Statistics.
Lansing — The Michigan House of Representatives on Aug. 15 passed House Bill 4543, a technical amendment to the Income Tax Act of 1967 intended to preserve annual inflation adjustments to the Michigan Home Heating Tax Credit. The measure passed by roll-call vote, 88-14, and the House ordered the bill to take immediate effect.
The bill replaces a reference to the Detroit Consumer Price Index with the U.S. national Consumer Price Index for calculating future inflation adjustments to the home heating credit. Representative Schuette,…
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