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Bill > HB5264
MI HB5264
MI HB5264Individual income tax: credit; child tax credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 275.
summary
Introduced
10/26/2023
10/26/2023
In Committee
10/26/2023
10/26/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 1967 PA 281, entitled"Income tax act of 1967,"(MCL 206.1 to 206.847) by adding section 275.
AI Summary
This bill amends the Income Tax Act of 1967 to add a new section that allows taxpayers to claim a state-level child tax credit equal to 50% of the federal child tax credit they are allowed to claim on their federal income tax return. If the state-level credit exceeds the taxpayer's state tax liability, the excess amount will be refunded to the taxpayer.
Committee Categories
Health and Social Services
Sponsors (8)
Bill Schuette (R)*,
Brian BeGole (R),
Ken Borton (R),
Nancy DeBoer (R),
Gina Johnsen (R),
Luke Meerman (R),
Kathy Schmaltz (R),
Rachelle Smit (R),
Last Action
Bill Electronically Reproduced 10/26/2023 (on 10/31/2023)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Family Issues
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | http://legislature.mi.gov/doc.aspx?2023-HB-5264 | 10/26/2023 |
| BillText | http://www.legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2023-HIB-5264.htm | 10/26/2023 |
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