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Code · Michigan · Chapter 38 — Civil Service and Retirement

38.2744 Taxation of assets and income; exemption.

94 words·~1 min read·/mi/chapter-38/38-2744

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38.2744 Taxation of assets and income; exemption.
Sec. 14.
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.
History: 2010, Act 77 , Imd. Eff. May 19, 2010 ;-- Am. 2011, Act 265 , Imd. Eff. Dec. 15, 2011
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