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Representative Jim Ananich (D-Flint) has introduced House Bill 4342.</span></div>
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<span style="font-size: larger;">The bill was introduced on 2/28/2013 and referred to the Committee on Tax Policy where hopefully it will never see the light of day and die in December of next year.</span><br />
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<span style="font-size: larger;">Introducing a bill like this was a waste of the bill drafters time, the paper it was printed on, and all of the other efforts that went into getting it introduced and printed.</span><br />
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<span style="font-size: larger;">But it isn&rsquo;t surprising that a democrat from Flint would seek to take state money and give it to others who would do absolutely nothing for it.</span><br />
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<span style="font-size: larger;">The bill would require the state to:</span><br />
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<span style="color: rgb(128, 0, 0);"><strong><em><span style="font-size: larger;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Establish and administer a &ldquo;$ave Michigan&rdquo; matching grant program to provide individuals and families with incentives and an opportunity to build savings and accrue assets provided under this act. The program would provide a 50% match of every dollar of a qualified taxpayer&rsquo;s federal income tax refund that he or she has directly deposited into a qualified savings account and maintained within that account for a minimum of 1 year, not to exceed $250.00. These matching grants under this act would be made by electronic funds transfer directly into the qualified taxpayer&rsquo;s qualified savings account. The state may take any necessary action to ensure the successful operation of the program, including, but not limited to, entering into agreements with qualified financial institutions related to the operation of the program and the establishment of qualified savings accounts.</span></em></strong></span><br />
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<span style="font-size: larger;">So let me summarize. we are going to give up to $250 in matching funds to anyone making less that $18,000.00 a year if they put money in from a tax return and keep it in the bank for one year because we want them to learn how to save money.</span><br />
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<span style="font-size: larger;">Are you serious? This will magically make them responsible savers? I see why the people of Flint elected this guy he wants to hand out money to them at our expense.</span><br />
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<span style="font-size: larger;">The bill would also create &ldquo;infrastructure&rdquo; to verify that the &ldquo;program&rdquo; is working correctly between the banks and the individuals and that the money stays in the account for a year. I wonder how much that would cost.</span><br />
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<span style="font-size: larger;">We just heard the State has extra revenue - what a great place to spend it!</span><br />
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<span style="font-size: larger;">The following is a link to the actual bill as it was introduced.</span><br />
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<a href="http://www.legislature.mi.gov/documents/2013-2014/billintroduced/House/htm/2013-HIB-4342.htm"><span style="font-size: larger;">http://www.legislature.mi.gov/documents/2013-2014/billintroduced/House/htm/2013-HIB-4342.htm</span></a><br />
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