MI HB5680

Establishes a tax credit for taxpayers with adjusted gross income of $37,500 or less (or $75,000 for joint filers) who purchase and install qualified home improvements meeting Energy Star guidelines, equal to 10% of the purchase and installation cost or $75 per improvement ($150 for joint filers), whichever is less, for tax years 2009-2011.

Allows qualified home improvements to include insulation, furnaces, water heaters, windows, refrigerators, clothes washers, and dishwashers that meet or exceed Energy Star efficiency guidelines.

Provides a separate credit for taxpayers with adjusted gross income of $65,000 or less (or $130,000 for joint filers) equal to 25% of authorized electric utility charges for tax years 2009 and 20% for tax years 2010-2011, covering both investor-owned and municipally owned electric utilities.

Requires taxpayers to provide verification of purchase amounts and documentation of Energy Star compliance to claim the home improvement credit.

Home improvement credits exceeding tax liability are refunded; utility credit overages are not refunded.