MI SB0403

Establishes a tax credit for qualified taxpayers equal to the cost of purchasing a hearing aid, capped at $1,500 per tax year for tax years beginning after December 31, 2010.

Allows the credit for hearing aids purchased for the taxpayer, their spouse (if over age 60), or their dependent.

Limits eligibility to "qualified taxpayers" with household income less than $100,000.

Specifies that any credit amount exceeding the taxpayer's tax liability is not refunded.

Defines "hearing aid" according to the occupational code and "dependent" as an individual for whom the taxpayer claims an exemption in the same tax year.