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MI HB4324

Bill

Official Source

Status

Introduced

3/12/2019

Primary Sponsor

Kristy Pagan

Click for details

Origin

House of Representatives

100th Legislature

AI Summary

  • Increases Michigan's earned income tax credit (EITC) for taxpayers claiming the federal EITC under Internal Revenue Code section 32
  • Sets credit percentages at 10% for 2019 tax year and 12% for tax years beginning after December 31, 2019 (up from the previous 6% for 2012-2018)
  • Allows taxpayers to claim the credit against Michigan income tax liability for tax years beginning after December 31, 2007
  • Permits the state treasurer to refund excess credits to taxpayers without interest if the credit exceeds the taxpayer's tax liability

Legislative Description

Individual income tax: credit; earned income tax credit; increase. Amends sec. 272 of 1967 PA 281 (MCL 206.272).

Individual income tax: credit

Last Action

Bill Electronically Reproduced 03/12/2019

3/12/2019

Committee Referrals

Tax Policy3/12/2019

Full Bill Text

No bill text available