Insurance: other; state low-income housing tax credit; create. Amends secs. 476a & 476b of 1956 PA 218 (MCL 500.476a & 500.476b). TIE BAR WITH: SB 0966'26, SB 0967'26

This bill amends Michigan's insurance code to allow insurers to claim a tax credit for state low-income housing tax credits starting in 2027. It also clarifies how taxes are applied to foreign and alien insurers doing business in Michigan, ensuring they face similar requirements as Michigan-based insurers in other states. The bill will only take effect if two other related Senate Bills are also passed into law.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

• MI HB6243Property: land sales; prohibition of purchase of residential property by certain businesses; modify. Amends secs. 3 & 7 of 2026 PA 32 (MCL 125.853 & 1125.857).
• MI HB5570Construction: code; single exit stairway in multiple-family dwellings; allow under certain conditions. Amends 1972 PA 230 (MCL 125.1501 - 125.1531) by adding sec. 4j.
• MI HB5806Individual income tax: credit; housing opportunity tax credits; create. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding secs. 281 & 678. TIE BAR WITH: HB 5805'26, HB 5807'26
• MI HB5807Insurance: other; housing opportunity tax credits against the retaliatory tax; provide for. Amends secs. 476a & 476b of 1956 PA 218 (MCL 500.476a & 500.476b). TIE BAR WITH: HB 5805'26, HB 5806'26
• MI HB6074Property: land sales; purchase of residential property by certain businesses; prohibit. Creates new act.