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MI HB6450

MI HB6450
Individual income tax: credit; credit for donations to certain charitable organizations that provide accommodation, food, or meals to indigents; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 260.


summary

Introduced
10/11/2022
In Committee
10/11/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

101st Legislature

Bill Summary

Individual income tax: credit; credit for donations to certain charitable organizations that provide accommodation, food, or meals to indigents; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 260.

AI Summary

This bill would add a new section to the Michigan Income Tax Act of 1967 to provide a tax credit for individuals who donate money or food to certain charitable organizations that provide accommodation, food, or meals to indigent people. The credit would be worth 50% of the donation, up to $100 for individual filers or $200 for joint filers. For resident estates or trusts, the credit would be limited to 10% of the filer's tax liability or $5,000, whichever is less. The bill also allows charitable organizations to request a determination from the state department on whether their donations qualify for the credit.

Committee Categories

Budget and Finance

Sponsors (6)

Last Action

Bill Electronically Reproduced 10/12/2022 (on 10/12/2022)

bill text


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