MI HB5739

Adds four new funds to Michigan's income tax checkoff program available starting with the 2018 tax year: Fostering Futures Scholarship Trust Fund, Lions of Michigan Foundation Fund, Michigan World War II Legacy Memorial Fund, and Kiwanis Fund.

Allows individual taxpayers to designate $5.00 or more of their tax refund to be credited to any eligible fund on their annual return, with contributions added to tax liability if refund is insufficient.

Maintains the existing limitation that no more than 10 separate contribution designations can appear on the contributions schedule in any single tax year.

Requires the Department of Treasury to remove any contribution designation that fails to raise $50,000 in two consecutive tax years.

Takes effect immediately only if House Bill 5740 of the 99th Legislature is enacted into law.