Bill > HB5063

This bill creates a new tax credit for individuals who foster animals through qualified organizations, starting in the 2026 tax year. Specifically, taxpayers can claim a $50 credit for each animal they foster for at least 7 days, with an additional $50 credit for animals fostered beyond 30 days. The total number of animals a taxpayer can claim credits for is limited to 5 per tax year. To receive the credit, taxpayers must submit verification from the qualified organization detailing the foster agreement. Qualified organizations include nonprofit animal rescues, pet shelters exempt from federal taxation under section 501(c)(3), and registered animal control or protection shelters. Beginning in 2027, the credit amount will be adjusted annually based on the United States Consumer Price Index, rounded to the nearest $5. Importantly, if the credit amount exceeds the taxpayer's tax liability, the excess will not be refunded. The bill aims to incentivize animal fostering by providing a modest financial benefit to individuals who temporarily care for animals from shelters or rescue organizations.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-5063