MI WWII LEGACY MEMORIAL FUND                                                          S.B. 816 & 817:

                                                                                                    SUMMARY OF BILL

                                                                                      REPORTED FROM COMMITTEE

Senate Bills 816 and 817 (as reported without amendment)

Sponsor:  Senator Marty Knollenberg (S.B. 816)

               Senator Steven Bieda (S.B. 817)

Committee:  Finance

CONTENT

Senate Bill 816 would amend the Income Tax Act to include the Michigan World War II Legacy Memorial Fund among the funds eligible for voluntary contributions (check-offs) on the State income tax return, starting in 2018.

Senate Bill 817 would enact the "Michigan World War II Legacy Memorial Fund Act" to do the following:

-- Create the "Michigan World War II Legacy Memorial Fund" for the purpose of providing funds for donation to the Michigan World War II Legacy Memorial organization to assist in honoring Michigan residents who served during World War II.

-- Require money raised from the proposed tax return check-off to be credited to the Fund.

-- Require that the money, interest, and earnings of the Fund be spent solely for donation to the Michigan World War II Legacy Memorial organization.

MCL 206.435 (S.B. 816)                                            Legislative Analyst:  Drew Krogulecki

FISCAL IMPACT

The bills would have a minimal fiscal impact on the Department of Treasury and no impact on local units of government. The Department would incur minimal administrative costs to add one new fund. The cost of modifying the Michigan income tax form would be part of annual modifications and within current appropriations.

Date Completed:  3-2-18                                                       Fiscal Analyst:  Cory Savino

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.