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Lawmakers pass bills for first-time homebuyers | News, Sports, Jobs


Apr 24, 2021
LANSING (AP) First-time homebuyers would be allowed to save for their purchasing costs using a tax-exempt savings account under bills that passed in the Michigan Legislature, a move designed to keep residents in the state workforce.
The legislation, approved Thursday, would allow individuals to set aside money exempt from state income tax, as long as the maximum account balance does not exceed $50,000. Starting in 2022, single participants could receive up to a $5,000 deduction each year and $10,000 for joint filers.
Each chamber of the Legislature passed identical bills with bipartisan support. They will not move to Gov. Gretchen Whitmer, though, until final legislative votes are taken. ....

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Michigan lawmakers pass bills to help first-time homebuyers


Michigan lawmakers pass bills to help first-time homebuyers
Anna Liz Nichols
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FILE - In this Oct. 6, 2020 file photo, a real estate brokerage sign stands in front of a house in Norwood, Mass. Sales of previously occupied U.S. homes fell in March for the second straight month as buyers grappled with a stubbornly low inventory of available properties and fierce competition pushed prices to new highs. The National Association of Realtors said Thursday, April 22, 2021 that existing home sales fell 3.7% last month from February to a seasonally-adjusted rate of 6.01 million annualized units. (AP Photo/Steven Senne) (Copyright 2020 The Associated Press. All rights reserved) ....

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How Republicans plan to tighten Michigan voting laws, evade Gov. Gretchen Whitmer veto


Whitmer stands in the way of those efforts in Michigan, but the state constitution provides a mechanism that Republicans could use to cut her out of the equation.
Two dozen states allow citizens to initiate legislation by petition drive, an option that is typically used to put measures on the ballot for voters to decide. 
But Michigan is one of just two states with a constitutional provision that expressly prohibits the governor from vetoing resident-initiated legislation that is adopted by the Legislature instead. 
That means by collecting at least 340,047 valid voter signatures, the Michigan Republican Party could send an election reform plan to the Legislature where GOP majorities could enact it into law, effectively shutting out Whitmer, who won election in 2018 with nearly 2.3 million votes. ....

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