MI HB5825

Establishes a $750 income tax credit for qualified taxpayers beginning in tax year 2019.

Reduces the credit by 10% for each $1,000 of adjusted gross income exceeding $50,000 (credit phases out as income increases).

Defines "qualified taxpayer" as a veteran who separated from military service during the tax year and meets at least one requirement: served 20+ years, is rated 100% permanently disabled by the Department of Veterans Affairs, or is eligible for VA pension or retirement benefits.

Defines "veteran" as an individual who served in the U.S. Armed Forces (including reserves) and was discharged or released under conditions other than dishonorable.

Specifies that excess credits cannot be refunded if they exceed the taxpayer's tax liability for the year.