MI HB4002

Removes the requirement limiting the earned income tax credit to tax years beginning after December 31, 2007, making it available for all tax years.

Adjusts the earned income tax credit percentages: 10% for 2008, 20% for 2009-2011, 6% for 2012-2022, and 30% for tax years beginning after December 31, 2022.

Provides a one-time additional 24% credit for the 2022 tax year only, calculated and refunded by the Department of Treasury as a fully negotiable check.

Allows refunds of excess credits to taxpayers without interest, consistent with existing Michigan tax law.

Applies retroactively effective for tax years beginning on and after January 1, 2022.