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MI HB5970
Bill
Status
5/9/2018
Primary Sponsor
Timothy Greimel
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AI Summary
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Allows taxpayers to claim a tax credit for expenses incurred to repair vehicle suspension damage caused by poor road conditions in Michigan for tax years beginning after December 31, 2018 and before January 1, 2024.
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Credit equals 50% of repair expenses or $500 (or $1,000 for joint filers), whichever is less.
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Requires taxpayers to provide verification of repair costs, date and time of damage, location details (county, road name, direction, lane, and nearest crossroad), and a statement that no reimbursement was received from another source.
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Excludes expenses that improve the vehicle beyond what is necessary to repair the damage and restore it to working condition.
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Allows refund of any credit amount that exceeds the taxpayer's tax liability for the year.
Legislative Description
Individual income tax; credit; credit for expenses incurred to repair damage to vehicle suspensions attributable to poor road conditions in this state; create and sunset. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 282.
Individual income tax: credit
Last Action
Bill Electronically Reproduced 05/09/2018
5/10/2018