MI HB4348

Creates a tax credit for teachers, school administrators, and school superintendents employed at at-risk schools in Michigan beginning in tax year 2018, equal to 100% of qualified student loan payments made during the tax year.

Defines "at-risk school" as a public or nonpublic elementary or secondary school where at least 50% of students meet income eligibility criteria for free breakfast, lunch, or milk under the National School Lunch Act.

Requires eligible taxpayers to provide the Department of Treasury with proof of residency, proof of employment at an at-risk school, and documentation of student loan payments to claim the credit.

Makes the credit refundable, meaning any portion of the credit exceeding the taxpayer's tax liability shall be refunded.

Defines "qualified student loan" as state or federal loans incurred to attend and receive a degree from an approved postsecondary educational institution located in Michigan, including loans under Michigan's Higher Education Loan Authority Act and the federal Higher Education Act of 1965.