Individual income tax: other; first-time home buyer savings program; extend sunset. Amends sec. 5 of 2022 PA 6 (MCL 565.1005). TIE BAR WITH: HB 5973’26
Key claim: This bill extends the sunset on Michigan’s first-time home buyer savings program under the individual income tax (2022 PA 6).
Abstract
(HB5967 · 103rd Legislature) Individual income tax: other; first-time home buyer savings program; extend sunset. Amends sec. 5 of 2022 PA 6 (MCL 565.1005). TIE BAR WITH: HB 5973’26 Sponsor: Rep. Cam Cavitt ® + 17 co-sponsors In committee: H Regulatory Reform Latest action (2026-05-14): Bill Electronically Reproduced 05/13/2026
Why this matters
The first-time home buyer savings program lets Michigan residents set aside funds — with individual income tax benefits — toward a first home purchase, and its statutory sunset determines how long the incentive remains available. Extending the sunset preserves the tax benefit for savers and continues a modest state revenue cost, keeping the program alive for prospective buyers rather than letting it expire on its current schedule.