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MI HB5179
Bill
Status
10/25/2017
Primary Sponsor
Patrick Green
Click for details
AI Summary
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Creates a state income tax credit for child and dependent care expenses beginning in tax years after December 31, 2016, based on the federal Internal Revenue Code Section 21 credit.
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Allows taxpayers with adjusted gross income under $25,000 to claim 110% of their federal Section 21 credit.
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Allows taxpayers with adjusted gross income of $25,000 to $40,000 to claim 100% of their federal Section 21 credit.
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Allows taxpayers with adjusted gross income of $40,000 to $65,000 to claim 80% of their federal Section 21 credit, and $65,000 to $100,000 to claim 20% of their federal Section 21 credit.
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Makes the credit refundable if it exceeds the taxpayer's total tax liability for the year.
Legislative Description
Individual income tax; credit; child and dependent care credit; create. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 275.
Individual income tax: credit
Last Action
Bill Electronically Reproduced 10/25/2017
10/26/2017