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MI HB5641
Bill
Status
12/14/2021
Primary Sponsor
Laurie Pohutsky
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AI Summary
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Expands Michigan's Earned Income Tax Credit (EITC) to allow taxpayers who fail to meet federal age requirements under Internal Revenue Code section 32(c)(1)(A)(ii)(II) to claim the credit for tax years beginning on or after January 1, 2022
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Removes the restriction limiting the EITC to only tax years beginning after December 31, 2007, making the credit available prospectively without a defined end date
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Maintains existing credit percentages: 10% for tax years 2008-2008, 20% for tax years 2009-2011, and 6% for tax years 2012 and beyond
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Allows excess credits to be refunded to taxpayers without interest if the credit exceeds their tax liability for the year
Legislative Description
Individual income tax: credit; eligibility for earned income tax credit; expand. Amends sec. 272 of 1967 PA 281 (MCL 206.272).
Individual income tax: credit
Last Action
Bill Electronically Reproduced 12/14/2021
12/15/2021