Individual income tax: deductions; sunset on deductions for contributions to a first-time home buyer savings account; extend. Amends sec. 30 of 1967 PA 281 (MCL 206.30). TIE BAR WITH: HB 5967’26
Key claim: Michigan HB 5973 would extend the sunset on individual income-tax deductions for contributions to first-time home buyer savings accounts.
Abstract
(HB5973 · 103rd Legislature) Individual income tax: deductions; sunset on deductions for contributions to a first-time home buyer savings account; extend. Amends sec. 30 of 1967 PA 281 (MCL 206.30). TIE BAR WITH: HB 5967’26 Sponsor: Rep. Cam Cavitt ® In committee: H Regulatory Reform Latest action (2026-05-14): Bill Electronically Reproduced 05/13/2026
Why this matters
Extending the sunset on the first-time home buyer savings account deduction preserves an existing individual income-tax break intended to help Michiganders save toward a home purchase, affecting both would-be homebuyers and state income-tax revenue. Because the change is tie-barred to HB 5967, the deduction’s continuation depends on companion legislation governing the underlying savings program.