MI HB5354

Amends the Michigan Income Tax Act of 1967 to modify the earned income tax credit percentages allowed against state income tax liability.

Restores the earned income tax credit to 20% for tax years beginning after January 1, 2016 (previously scheduled to be 6%).

Maintains 10% credit for tax years beginning after December 31, 2007 and before January 1, 2009.

Maintains 20% credit for tax years beginning after December 31, 2008 and before January 1, 2012.

Allows the state treasurer to refund excess credits to taxpayers without interest if the credit exceeds tax liability for the year.