Bill > HB4933

This bill creates a new "Make It in Michigan Credit" for the Michigan individual income tax. The credit allows qualified taxpayers who either graduated from a high school in Michigan or received a bachelor's, master's, or other higher graduate degree from a postsecondary institution in Michigan and remained or relocated to Michigan for employment to claim a credit equal to 50% of the amount they paid on a qualified student loan during the tax year. The credit is capped at 20% of the average yearly tuition at a public university in Michigan and can only be claimed within 10 years of the taxpayer's graduation. The taxpayer must provide proof of residency, degree, and in-state employment to receive the credit, which can be refunded if it exceeds the taxpayer's liability.