MI HB5529

Increases the Michigan earned income tax credit (EITC) from 6% to 30% of the federal credit amount for tax years beginning after December 31, 2017.

Maintains existing credit percentages for prior tax years: 10% for 2008, 20% for 2009-2011, and 6% for 2012-2017.

Allows taxpayers to claim the credit against Michigan income tax liability based on the earned income tax credit claimed under federal Internal Revenue Code section 32.

Requires the state treasurer to refund any excess credit amount to the taxpayer without interest if the credit exceeds the taxpayer's tax liability.