Mich. Comp. Laws § 38.705
This is the official text of Mich. Comp. Laws § 38.705, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Reserve fund and annuities; tax exemption; subject to taxation beginning January 1, 2012.
Official statutory text
Sec. 5.
(1) Except as otherwise provided in this section, if a system of retiring allowances is adopted under this act, the reserve fund created is exempt from all state, county, township, city, village, and school district taxes and the annuities payable to the members of the staff are exempt from all state, county, township, city, village, and school district taxes.
(2) Beginning January 1, 2012, the annuities payable to the members of the staff are subject to state taxes.
History: 1927, Act 339, Imd. Eff. June 1, 1927; CL 1929, 8113; CL 1948, 38.705; Am. 2011, Act 44, Imd. Eff. May 25, 2011
(1) Except as otherwise provided in this section, if a system of retiring allowances is adopted under this act, the reserve fund created is exempt from all state, county, township, city, village, and school district taxes and the annuities payable to the members of the staff are exempt from all state, county, township, city, village, and school district taxes.
(2) Beginning January 1, 2012, the annuities payable to the members of the staff are subject to state taxes.
History: 1927, Act 339, Imd. Eff. June 1, 1927; CL 1929, 8113; CL 1948, 38.705; Am. 2011, Act 44, Imd. Eff. May 25, 2011
Status: in_force · Read it on the official government site
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