MI SB0197

Adds the fostering futures scholarship trust fund to the list of charitable organizations that Michigan taxpayers can designate contributions to on their state income tax return, effective for the 2018 tax year and thereafter.

Allows individuals to contribute $5.00, $10.00, or more of their tax refund to the fostering futures scholarship trust fund through a checkoff option on their annual tax return.

Permits individuals whose refunds are insufficient to make contributions to instead add the designated contribution amount to their tax liability for that tax year.

Requires the department to cease including a contribution designation on the tax form if it fails to raise $50,000 in any tax year for 2 consecutive tax years.

Contains a tie-bar provision making this act contingent upon the enactment of Senate Bill No. 196 of the 99th Legislature.