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MI HB4933

Bill

Official Source

Status

Introduced

5/27/2021

Primary Sponsor

Angela Witwer

Click for details

Origin

House of Representatives

101st Legislature

AI Summary

  • Amends the earned income tax credit (EITC) provision in Michigan's Income Tax Act to modify the percentage of federal EITC that can be claimed as a state credit
  • Changes the credit percentage for tax years beginning after December 31, 2011 from 6% to 20%, but only for tax years beginning before January 1, 2021
  • Establishes a new 20% credit for tax years beginning after December 31, 2020
  • Allows refunds of excess credits to taxpayers without interest when the credit exceeds tax liability
  • Effective for tax years beginning after December 31, 2007

Legislative Description

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

Individual income tax: credit

Last Action

Notice Given To Discharge Committee

9/21/2022

Committee Referrals

Tax Policy5/27/2021

Full Bill Text

No bill text available