Bill Text: MI HB6433 | 2017-2018 | 99th Legislature | Engrossed

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Bill Title: Individual income tax; credit; credit for donation to a certain charitable organization; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 260. TIE BAR WITH: HB 6434'18

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2018-12-13 - Referred To Committee On Finance [HB6433 Detail]

Download: Michigan-2017-HB6433-Engrossed.html

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HB-6433, As Passed House, December 12, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HOUSE BILL No. 6433

 

 

October 4, 2018, Introduced by Rep. Noble 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 260.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 260. (1) For tax years beginning on and after January 1,

 

2019, a taxpayer may credit against the tax imposed by this part

 

for the tax year an amount, subject to the applicable limitations

 

under this section, equal to 50% of the aggregate amount of

 

charitable contributions made by the taxpayer during the tax year

 

to a shelter for homeless persons, food kitchen, food bank, or

 

other entity located in this state, the primary purpose of which is

 

to provide overnight accommodation, food, or meals to persons who

 

are indigent.

     (2) The maximum credit allowed under this section for total

 

contributions made, including the value of food items contributed

 

in conjunction with a program in which a vendor makes a matching

 

contribution of similar items in the tax year to shelters for

 

homeless persons, food kitchens, food banks, and other entities, is

 

as follows:

 

     (a) For a taxpayer other than a resident estate or trust, the

 

credit shall not exceed $100.00, or $200.00 for a joint return.

 

     (b) For a resident estate or trust, the credit shall not

 

exceed 10% of the taxpayer's tax liability for the tax year before

 

claiming any credits allowed by this part or $5,000.00, whichever

 

is less.

 

     (3) If the amount of the credits allowed under this section

 

exceeds the tax liability of the taxpayer for the tax year, the

 

portion that exceeds the tax liability shall not be refunded.

 

     Enacting section 1. This amendatory act does not take effect

 

unless Senate Bill No.____ or House Bill No. 6434 (request no.

 

06984'18) of the 99th Legislature is enacted into law.