Act No. 5

Public Acts of 1999

Approved by the Governor

February 25, 1999

Filed with the Secretary of State

February 25, 1999

EFFECTIVE DATE: 91st day after final adjournment of 1999 Session

STATE OF MICHIGAN

90TH LEGISLATURE

REGULAR SESSION OF 1999

Introduced by Senators Bullard, Shugars, Jaye, Gast, Dunaskiss, Bennett, Schuette, Hammerstrom, Stille, Gougeon, Schwarz, Rogers, McCotter, North, Emmons and Sikkema

ENROLLED SENATE BILL No. 5

AN ACT to amend 1967 PA 281, entitled "An act to meet deficiencies in state funds by providing for the imposition, levy, computation, collection, assessment, and enforcement by lien and otherwise of taxes on or measured by net income; to prescribe the manner and time of making reports and paying the taxes, and the functions of public officers and others as to the taxes; to permit the inspection of the records of taxpayers; to provide for interest and penalties on unpaid taxes; to provide exemptions, credits and refunds of the taxes; to prescribe penalties for the violation of this act; to provide an appropriation; and to repeal certain acts and parts of acts," (MCL 206.1 to 206.532) by adding section 51e.

The People of the State of Michigan enact:

Sec. 51e. On and after January 1, 2004, for receiving, earning, or otherwise acquiring income from any source whatsoever, there is levied and imposed upon the taxable income of every person other than a corporation a tax at the rate of 3.9%.

Enacting section 1. This amendatory act does not take effect unless all of the following bills of the 90th Legislature are enacted into law:

(a) Senate Bill No. 1.

(b) Senate Bill No. 2.

(c) House Bill No. 4033.

(d) House Bill No. 4034.

(e) House Bill No. 4035.

Secretary of the Senate.

Clerk of the House of Representatives.

Approved

Governor.