MI HB4388

Allows taxpayers to claim a 50% tax credit for cash and food donations to shelters for homeless persons, food kitchens, food banks, and similar entities in Michigan that primarily serve indigent persons, effective for tax years beginning January 1, 2019.

Sets maximum credit limits of $100 for individual returns and $200 for joint returns; for resident estates or trusts, the maximum is 10% of tax liability before other credits or $5,000, whichever is less.

Allows taxpayers to claim a 50% tax credit for donations to certified community foundations with the same maximum limits; organizations must apply for certification by May 15 and have assets of at least $1,000,000.

Requires the Department of Treasury to respond to entity requests determining credit eligibility within 30 days and to report total credits claimed to legislative committees by July 1 each year.

Specifies that excess credits cannot be refunded and that for resident estates or trusts, the donated amounts cannot have been deducted from federal taxable income.