There Is a Newer Version of the Michigan Compiled Laws
2011 Michigan Compiled Laws
Chapter 206 — INCOME TAX ACT OF 1967
Act 513 of 2006 — INDIVIDUAL OR FAMILY DEVELOPMENT ACCOUNT PROGRAM ACT (206.901 - 206.911)***** 206.907 THIS SECTION IS REPEALED BY ACT 38 OF 2011 EFFECTIVE JANUARY 1, 2012 *****
- Section 206.901 — Short title.
- Section 206.902 — Definitions.
- Section 206.903 — Individual or family development account; establishment; purpose; policies and procedures; approving and reviewing qualifications of fiduciary organizations and program sites; factors; implementation of programs.
- Section 206.904 — Eligibility; approval or rejection of applicant by program site; limitation on number of accounts; duties of individual; establishment of account; purposes; signatures for withdrawals.
- Section 206.905 — Participant savings plan agreement; matching funds; distributions; manner.
- Section 206.906 — Withdrawal matched by program site; contingent beneficiary; financial institution not responsible for verification.
- Section 206.907 — Eligibility for tax credit.
- Section 206.908 — Tax credits; total; limitation; reserve fund; application for credits; certificate.
- Section 206.909 — Administration of individual or family development account program by fiduciary organization; report.
- Section 206.910 — Rules.
- Section 206.911 — Effective date.
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