Bill Text: MI HB4679 | 2009-2010 | 95th Legislature | Introduced

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Bill Title: Income tax; credit; tax incentive for the purchase of certain new vehicles; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.532) by adding sec. 254.

Spectrum: Partisan Bill (Democrat 20-1)

Status: (Introduced - Dead) 2009-03-25 - Printed Bill Filed 03/25/2009 [HB4679 Detail]

Download: Michigan-2009-HB4679-Introduced.html

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HOUSE BILL No. 4679

 

March 24, 2009, Introduced by Reps. Haugh, Slezak, Gregory, Nathan, Roy Schmidt, Huckleberry, Kennedy, Womack, Young, Barnett, Bledsoe, Slavens, Durhal, Stanley, Byrum, Segal, Geiss, Kandrevas, Wayne Schmidt, Miller and Liss 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 206.532) by adding section 254.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 254. (1) For tax years that begin after December 31,

 

2008, a taxpayer that purchases a qualified vehicle during the tax

 

year may claim a credit against the tax imposed by this act of

 

$1,000.00.

 

     (2) If the amount of the credit allowed under 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.

 

     (3) As used in this section:

 

     (a) "New motor vehicle" means that term as defined in section

 

33a of the Michigan vehicle code, 1949 PA 300, MCL 257.33a.

 

     (b) "Qualified vehicle" means a new motor vehicle that is

 

manufactured and marketed in the United States.