Bill Text: MI SB0378 | 2021-2022 | 101st Legislature | Engrossed

Bill Title: Individual income tax: credit; qualified child tax credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 254.

Spectrum: Partisan Bill (Republican 8-0)

Status: (Engrossed) 2021-05-18 - Referred To Committee On Tax Policy [SB0378 Detail]

Download: Michigan-2021-SB0378-Engrossed.html



Substitute For


A bill to amend 1967 PA 281, entitled

"Income tax act of 1967,"

(MCL 206.1 to 206.713) by adding section 254.

the people of the state of michigan enact:

Sec. 254. (1) For tax years that begin on and after January 1, 2022 through December 31, 2025, a taxpayer may claim a credit against the tax imposed by this part equal to $500.00 for each qualified dependent of the taxpayer for which an exemption was claimed under section 30(2)(b) for that same tax year. If 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 not be refunded.

(2) As used in this section, "qualified dependent" means a dependent who is younger than 19 years of age on the last day of the tax year for which the credit is claimed.