Individual income tax: revenue distributions; earmark to 21st century jobs trust fund for the Michigan innovation fund program; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695) & adds sec. 51i. TIE BAR WITH: SB 1073’26
Key claim: SB1072 would earmark a portion of Michigan individual income tax revenue to the 21st Century Jobs Trust Fund to support the Michigan Innovation Fund program.
Abstract
(SB1072 · 103rd Legislature) Individual income tax: revenue distributions; earmark to 21st century jobs trust fund for the Michigan innovation fund program; provide for. Amends sec. 695 of 1967 PA 281 (MCL 206.695) & adds sec. 51i. TIE BAR WITH: SB 1073’26 Latest action (2026-06-24): Referred To Committee On Appropriations
Why this matters
Earmarking individual income tax revenue to the 21st Century Jobs Trust Fund would create a dedicated, recurring funding stream for the Michigan Innovation Fund program, shifting economic development finance away from year-to-year appropriations toward a formula-based diversion of general fund income tax collections. For taxpayers, this reduces revenue available for other general fund purposes; for startups and innovation-economy employers, it stabilizes a source of state support for business incubation and early-stage capital.