Mich. Comp. Laws § 38.2744

Current through Public Act 156 of the 2024 Legislative Session

Section 38.2744 - Taxation of assets and income; exemption

All assets and income of the trusts shall be exempt from taxation by this state or any political subdivision of this state. Except as otherwise provided in section 4(2), distributions from the trusts shall not be treated as taxable income to the past members, their health reimbursement account dependents, or their funding account dependents by this state or any political subdivision of this state.

MCL 38.2744

Amended by 2011, Act 265,s 11, eff. 12/15/2011.

Added by 2010, Act 77,s 14, eff. 5/19/2010.