Auto Insurers losing tax break - WNEM TV 5

Auto Insurers losing tax break

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The Michigan Legislature is working at repealing a tax break that was given to Auto Insurance companies unintentionally.

The Republican-led State House of Representatives has overwhelmingly approved two bills that would restore $80 million in taxes charged to Auto Insurers.

Michigan has a claims plan that covers accident related medical care for the uninsured. 

In 2012 that program was transferred from the Secretary of State's Office to an agency that sells insurance to people unable to buy from insurance companies.

Insurers receive credit for payments to that group so, they inadvertently qualified for the tax break.

Copyright 2016  Associated Press

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