MI SB1047

Allows individuals to designate portions of their state income tax refund (in amounts of $5.00 or more) to charitable and public benefit funds starting with the 2008 tax year.

Adds two new funds to the contribution designation options for 2012 tax year and thereafter: the Special Olympics Michigan Fund and the Michigan Amber Alert Fund.

Limits the contributions schedule to a maximum of 10 separate contribution designations per tax year, with new designations added in alphabetical order.

Requires the Department of Treasury to remove any contribution designation that fails to raise $50,000 in donations for 2 consecutive tax years.

Mandates that all funds collected must be distributed within 1 year and cannot be used for administrative costs, and specifies that contributions enhance rather than replace existing state appropriations for these programs.