Bill > HB6162

This bill proposes to amend Michigan's Income Tax Act of 1967 by adding a new section that provides a tax credit for charitable donations made to food banks, shelters for homeless persons, and other similar entities located in Michigan. The credit would be equal to 50% of the total contributions made, up to a maximum of $100 for individual taxpayers or $200 for joint filers. For resident estates and trusts, the credit would be limited to 10% of the taxpayer's tax liability or $5,000, whichever is less. The amount used to calculate the credit cannot be deducted in arriving at the taxpayer's federal taxable income. If the credit exceeds the taxpayer's tax liability, the excess will not be refunded.