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MI HB5807

Bill

Official Source

Status

Introduced

6/12/2024

Primary Sponsor

David Martin

Click for details

Origin

House of Representatives

102nd Legislature

AI Summary

  • Allows taxpayers to claim a $500 tax credit for each qualified dependent for tax years beginning January 1, 2025 through December 31, 2028
  • Qualified dependent is defined as a dependent younger than 19 years of age on the last day of the tax year
  • Credit applies only to dependents for which an exemption was claimed under section 30(2)(b) for the same tax year
  • Credit cannot exceed the taxpayer's tax liability; any excess credit is not refunded

Legislative Description

Individual income tax: credit; qualified child tax credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 277.

Individual income tax: credit

Last Action

Bill Electronically Reproduced 06/12/2024

6/13/2024

Committee Referrals

Tax Policy6/12/2024

Full Bill Text

No bill text available