Michigan Compiled Laws
Act 6 of 2022 - Michigan First-Time Home Buyer Savings Program Act (565.1001 - 565.1013)
Section 565.1001 - Short Title.

Sec. 1.
This act may be cited as the "Michigan first-time home buyer savings program act".
History: 2022, Act 6, Imd. Eff. Feb. 9, 2022

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 565 - Conveyances of Real Property

Act 6 of 2022 - Michigan First-Time Home Buyer Savings Program Act (565.1001 - 565.1013)

Section 565.1001 - Short Title.

Section 565.1003 - Definitions.

Section 565.1005 - First-Time Home Buyer Savings Program; Establishment; Savings Account Designation; Form of Contribution.

Section 565.1007 - Account Holder Responsibilities; Use of Funds; Filing With Department; Maintenance and Retention of Records; Rules; Deduction Under MCL 206.30; Informational Materials.

Section 565.1009 - Financial Institution Duties and Responsibilities.

Section 565.1011 - Maximum Account Balance Limit; Contributions, Interest Earned, and Qualified Withdrawals as Tax Exempt.

Section 565.1013 - Improper Use of Funds; Penalties; Exceptions; Definitions.