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)

Section 206.901 - Short Title. - Sec. 1. This act shall be known and may be...

Section 206.902 - Definitions. - Sec. 2. As used in this act: (a) "Account holder"...

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. - Sec. 3. (1) The individual or family development account program...

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. - Sec. 4. (1) An individual or family whose household income...

Section 206.905 - Participant Savings Plan Agreement; Matching Funds; Distributions; Manner. - Sec. 5. (1) A program site shall enter into a...

Section 206.906 - Withdrawal Matched by Program Site; Contingent Beneficiary; Financial Institution Not Responsible for Verification. - Sec. 6. (1) Money withdrawn during a calendar year from...

Section 206.907, 206.908 - Repealed. 2011, Act 38, Eff. Jan. 1, 2012. - Compiler's Notes: The repealed sections pertained to eligibility for tax...

Section 206.909 - Administration of Individual or Family Development Account Program by Fiduciary Organization; Report. - Sec. 9. (1) A fiduciary organization selected to administer an...

Section 206.910 - Rules. - Sec. 10. The Michigan state housing development authority and the...

Section 206.911 - Effective Date. - Sec. 11. This act takes effect January 1, 2007. History:...