MI HB4530

Allows taxpayers to claim a credit equal to 50% of cash and food donations to shelters, food kitchens, food banks, and similar entities serving homeless or indigent persons, effective for tax years beginning January 1, 2023

Limits credit to $100 per individual return or $200 for joint returns; resident estates and trusts limited to the lesser of 10% of tax liability or $5,000

Requires resident estates and trusts to exclude amounts deducted from federal taxable income when calculating the credit

Excess credit amounts cannot be refunded and do not carry forward

Requires the Department of Treasury to report annual credit claims to legislative tax committees by July 1 and respond to entity qualification requests within 30 days