Bill > HB4387

This bill creates a tax credit for Michigan residents affected by a specific state of emergency declared in March 2025 due to severe winter weather and ice storms. The credit allows qualified taxpayers to claim up to $5,000 for expenses related to cleaning up, repairing, restoring, or rebuilding their home, property, or business within the emergency area. To be eligible, taxpayers must submit a form to the state treasury that includes their federal or Michigan tax identification number, their address in the affected area, and a description of how they were impacted by the winter weather. The credit applies only to the 2025 tax year and can be claimed by individual taxpayers and members of flow-through business entities (like partnerships or S-corporations). If the credit amount exceeds a taxpayer's tax liability, the excess will be refunded. Qualified expenses include purchasing generators, chainsaws, and building materials needed for recovery efforts. The bill specifically references a state of emergency declared on March 31, 2025, and updated on April 2, 2025, covering counties significantly impacted by the winter storm.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4387