MI HB6392

Amends Michigan's Income Tax Act to allow taxpayers to designate refund contributions of $5.00 or more to various charitable and public funds starting with the 2008 tax year.

Adds the Detroit College Promise Fund as a new contribution option beginning with the 2011 tax year, to be funded from tax year 2011 forward.

Requires the Department of Treasury to establish a separate contributions schedule on the state income tax return incorporating all authorized contribution designations in alphabetical order.

Allows the Department to remove a contribution designation from the schedule if it fails to raise $100,000.00 in any two consecutive tax years.

Permits taxpayers to designate contributions that exceed their refund amount, with such amounts added to the taxpayer's tax liability for that year; requires all collected contributions be appropriated to the respective fund administrators and used solely for fund purposes.