Bill Text: MI HB5179 | 2017-2018 | 99th Legislature | Introduced
Bill Title: Individual income tax; credit; child and dependent care credit; create. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 275.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-10-26 - Bill Electronically Reproduced 10/25/2017 [HB5179 Detail]
Download: Michigan-2017-HB5179-Introduced.html
HOUSE BILL No. 5179
October 25, 2017, Introduced by Reps. Green, Santana, Hammoud, Ellison, Sneller, Rabhi, Sowerby, Sabo, Chang, Hertel, Elder, Yanez, Durhal, Scott, Schor, Pagan, Love, Cochran, Robinson, Dianda, Lucido, Gay-Dagnogo, Geiss, Zemke and Jones 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,
2016, 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%.
(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.
