Bill Text: MI SB0789 | 2009-2010 | 95th Legislature | Introduced

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Bill Title: Income tax; credit; contributions to the beverage container redemption antifraud fund; create. Amends 1967 PA 281 (MCL 206.1 - 206.532) by adding sec. 278. TIE BAR WITH: SB 0788'09

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2009-09-09 - Referred To Committee On Finance [SB0789 Detail]

Download: Michigan-2009-SB0789-Introduced.html

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SENATE BILL No. 789

 

 

September 9, 2009, Introduced by Senators JELINEK, VAN WOERKOM, BROWN and RICHARDVILLE and referred to the Committee on Finance.

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.532) by adding section 278.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 278. (1) For tax years that begin after September 30,

 

2010, a taxpayer that makes a contribution during the tax year to

 

the beverage container redemption antifraud fund created in section

 

7 of the beverage container redemption antifraud act, 2008 PA 388,

 

MCL 445.637, may claim a credit against the tax imposed by this act

 

in an amount equal to the difference between the amount of the

 

payment from the bottle deposit fund created in section 3c of 1976

 

IL 1, MCL 445.573c, that should have been disbursed to the taxpayer

 

in accordance with section 3c(3) of 1976 IL 1, MCL 445.573c, and

 

the amount that the taxpayer actually received from the bottle

 

deposit fund pursuant to section 3c of 1976 IL 1, MCL 445.573c.

 

     (2) A taxpayer that receives a disbursement during the tax

 

year from the bottle deposit fund created in section 3c of 1976

 

IL1, MCL 445.573c, equal to or greater than the disbursement

 

required under section 3c(3) of 1976 IL 1, MCL 445.573c, is not

 

eligible to claim the credit under this section for that same tax

 

year.

 

     (3) 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 be

 

refunded.

 

     Enacting section 1. This amendatory act does not take effect

 

unless Senate Bill No. 788.                                   

 

          of the 95th Legislature is enacted into law.