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MI HB4334
Bill
Status
3/23/2023
Primary Sponsor
Phil Skaggs
Click for details
AI Summary
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Allows Michigan taxpayers to claim an income tax credit for contributions made during the tax year to ballot question committees or candidate committees for state or local elective offices, effective for tax years beginning January 1, 2024
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Credit is limited to $250 for single filers and $500 for joint filers
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Excludes contributions to independent committees, political party committees, and legislative caucus committees from eligibility
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Taxpayers must provide verification of contributions to claim the credit, and any excess credit above tax liability is refundable
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Defines key terms by reference to the Michigan Campaign Finance Act (1976 PA 388)
Legislative Description
Individual income tax: credit; tax incentive for contributions made to certain ballot and candidate committees; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 280.
Individual income tax: credit
Last Action
Bill Electronically Reproduced 03/23/2023
3/23/2023