Bill Text: MI HB5641 | 2021-2022 | 101st Legislature | Introduced


Bill Title: Individual income tax: credit; eligibility for earned income tax credit; expand. Amends sec. 272 of 1967 PA 281 (MCL 206.272).

Spectrum: Partisan Bill (Democrat 13-0)

Status: (Introduced) 2021-12-15 - Bill Electronically Reproduced 12/14/2021 [HB5641 Detail]

Download: Michigan-2021-HB5641-Introduced.html

 

 

 

 

 

 

 

 

 

 

HOUSE BILL NO. 5641

December 14, 2021, Introduced by Reps. Pohutsky, Rogers, Young, Haadsma, Manoogian, Neeley, Hood, Cavanagh, Aiyash, Morse, Bolden, Brabec and Weiss and referred to the Committee on Tax Policy.

A bill to amend 1967 PA 281, entitled

"Income tax act of 1967,"

by amending section 272 (MCL 206.272), as amended by 2011 PA 38.

the people of the state of michigan enact:

Sec. 272. (1) For the following tax years that begin after December 31, 2007, a A taxpayer may credit against the tax imposed by this act part an amount equal to the specified percentages of the credit the taxpayer is allowed to claim as a credit under section 32 of the internal revenue code and, for tax years beginning on and after January 1, 2022, a taxpayer who does not meet the age requirements under section 32(c)(1)(A)(ii)(II) of the internal revenue code may credit against the tax imposed by this part an amount equal to the specified percentages of the credit the taxpayer would have been allowed to claim as a credit under section 32 of the internal revenue code but for the individual's failure to meet the age requirements under section 32(c)(1)(A)(ii)(II) of the internal revenue code, for a tax year on a return filed under this act part for the same tax year:

(a) For tax years that begin after December 31, 2007 and before January 1, 2009, 10%.

(b) For tax years that begin after December 31, 2008 and before January 1, 2012, 20%.

(c) For tax years that begin after December 31, 2011, 6%.

(2) If the credit allowed by this section exceeds the tax liability of the taxpayer for the tax year, the state treasurer shall refund the excess to the taxpayer without interest, except as provided in section 30 of 1941 PA 122, MCL 205.30.

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