HOUSE BILL No. 4183

 

 

February 13, 2019, Introduced by Reps. Anthony, Lasinski, Shannon, Love, Hood, Clemente, Pagan, Cynthia Johnson, Gay-Dagnogo, Kennedy, Hope, Pohutsky and Ellison and referred to the Committee on Tax Policy.

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.713) by adding section 275.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 275. (1) For tax years that begin after December 31,

 

2018, a taxpayer may claim a credit against the tax imposed by this

 

act equal to the following specified percentages of the credit the

 

taxpayer is allowed to claim as a credit under section 21 of the

 

internal revenue code for a tax year on a return filed under this

 

act for the same tax year:

 

     (a) For a taxpayer with an adjusted gross income as defined in

 

the internal revenue code of less than $25,000.00, 110%.

 

     (b) For a taxpayer with an adjusted gross income as defined in

 

the internal revenue code of $25,000.00 or more but less than

 

$40,000.00, 100%.

 


     (c) For a taxpayer with an adjusted gross income as defined in

 

the internal revenue code of $40,000.00 or more but less than

 

$65,000.00, 80%.

 

     (d) For a taxpayer with an adjusted gross income as defined in

 

the internal revenue code of $65,000.00 or more but less than

 

$100,000.00, 20%.

 

     (e) For a taxpayer with an adjusted gross income as defined in

 

the internal revenue code of $100,000.00 or more, 0%.

 

     (2) If the credit allowed by this section exceeds the tax

 

liability of the taxpayer for the tax year, that portion of the

 

credit that exceeds the tax liability shall be refunded.