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MI HB5422
Bill
Status
1/25/2018
Primary Sponsor
James Tedder
Click for details
AI Summary
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Establishes a $100 tax credit against Michigan income tax for qualified taxpayers filing single returns and $100 for joint returns, or $200 if both spouses are qualified taxpayers.
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Defines a "qualified taxpayer" as an individual who is 62 years of age or older at the close of the tax year.
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Applies to tax year 2018 and each subsequent tax year.
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Allows excess credits that exceed tax liability to be refunded to the taxpayer.
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Takes effect only if House Bills 5420 and 5421 are enacted into law.
Legislative Description
Individual income tax; credit; credit for certain qualified taxpayers; create. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 254. TIE BAR WITH: HB 5420'18, HB 5421'18
Individual income tax: credit
Last Action
Reassigned To Committee On Government Operations
6/12/2018