Statutes > Michigan Statutes > Chapter 38 - CIVIL SERVICE AND RETIREMENT > Act 77 of 2010 - PUBLIC EMPLOYEE RETIREMENT HEALTH CARE FUNDING ACT (38.2731 - 38.2747) > Section 38.2744 - Taxation of assets and income.

Section 38.2744 - Taxation of assets and income.

PUBLIC EMPLOYEE RETIREMENT HEALTH CARE FUNDING ACT (EXCERPT)
Act 77 of 2010

38.2744 Taxation of assets and income.

Sec. 14.

All assets and income of the trusts shall be exempt from taxation by the state or any political subdivision of this state. Distributions from the trusts will not be treated as taxable income to the past members or their funding account dependents by this state or any political subdivision of this state.


History: 2010, Act 77, Imd. Eff. May 19, 2010