Testimony was given in the House Finance Committee this week on legislation requiring that a detailed report be mailed annually to every taxpayer, outlining the state’s revenues and distribution.
Key Points:
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- House Bill 4019 was introduced by Representative Matt Bierlein (R-Vassar)
- The annual report would be one-page maximum.
- The Michigan Department of Treasury and the State Budget Office would be responsible for compiling the report.
- It would contain total revenue collections attributable to:
- Wage and salary withholdings
- Quarterly payments
- Flow-through entity tax
- Annual payments
- The report would outline total distributions for the:
- General Fund
- School Aid Fund
- Michigan Transportation Fund
- Renew Michigan Fund
- State Campaign Fund
- Lastly, it would contain the total amount of refunds issued.
- The House Fiscal Agency estimates the cost to distribute the report would be approximately $4.2 million annually.
Next Steps:
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- The bill remains before the House Finance Committee for further consideration.
