SB-0403, As Passed Senate, September 28, 2010

 

 

 

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

SENATE BILL NO. 403

 

 

 

 

 

 

 

 

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.532) by adding section 273.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 273. (1) For tax years that begin after December 31,

 

2010, a qualified taxpayer may claim a credit against the tax

 

imposed by this act equal to the cost paid in the tax year to

 

purchase a hearing aid for the qualified taxpayer or the qualified

 

taxpayer's spouse, if he or she is over the age of 60, or for a

 

dependent of the qualified taxpayer, not to exceed $1,500.00 for

 

each tax year.

 

     (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 not be

 

refunded.

 

     (3) As used in this section:

 

     (a) "Dependent" means an individual for whom the qualified

 

taxpayer claims an exemption under section 30(2) for the same year

 

for which the credit under this section is claimed.

 

     (b) "Hearing aid" means that term as defined in section 1301

 

of the occupational code, 1980 PA 299, MCL 339.1301.

 

     (c) "Household income" means that term as defined under

 

section 508.

 

     (d) "Qualified taxpayer" means a taxpayer whose household

 

income is less than $100,000.00.