MI SB0647

Allows homeowners and renters to claim a credit for heating fuel costs, with credit amounts ranging from $272 to $601 plus $76 for each exemption over 6, adjusted annually based on federal poverty income standards.

Credits are calculated as the greater of: (i) a percentage-based calculation using 3.5% of household resources, or (ii) 70% of actual heating costs minus 11% of household resources for households below specified income thresholds.

Credit amounts are issued as energy drafts negotiable only through the claimant's heating fuel provider, with provisions for payment to providers within 14 days and remaining balances converted to negotiable checks after specified periods.

Federal appropriations for the Low Income Home Energy Assistance Program (LIHEAP) block grant determine credit availability; if federal funds are insufficient, individual credits are reduced proportionally.

Requires claimants to file credit claims on a separate form by September 30 following the tax year and provide information required for federal LIHEAP compliance; prohibits credits from being offset against other state tax liabilities or debts.