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MI HB5961
Bill
Status
10/19/2016
Primary Sponsor
Alberta Talabi
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AI Summary
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Allows qualified senior citizens to claim a tax credit equal to 75% of costs paid for qualified home renovations, up to a maximum credit of $5,000 per tax year beginning after December 31, 2016
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Applies only to renovations completed in the tax year claimed and only once per qualified taxpayer for any set of qualified renovations
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Qualified renovations include mobility assistance modifications for seniors (bath bars, ramps, wheelchair lifts, etc.) and changes required to meet local or state building codes for persons with disabilities
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Defines qualified taxpayers as senior citizens age 60 and older whose household income does not exceed 185% of federal poverty guidelines
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Excess credits that surpass the taxpayer's tax liability for the year shall be refunded; department may require reasonable proof of renovation costs claimed
Legislative Description
Individual income tax; credit; credit for certain renovations made to the home of senior citizens; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 254.
Individual income tax: credit
Last Action
Bill Electronically Reproduced 10/19/2016
11/9/2016