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MI SB0144

Bill

Official Source

Status

Engrossed

4/27/2023

Primary Sponsor

Kristen McDonald Rivet

Click for details

Origin

Senate

102nd Legislature

AI Summary

  • Creates a one-time earned income tax credit (EITC) supplement for the 2022 tax year equal to 24% of the federal EITC claimed under Internal Revenue Code Section 32
  • Department of Treasury calculates and automatically refunds the credit amount to eligible taxpayers who claimed the Section 272 credit on their 2022 return
  • Credit is issued as a fully negotiable check and refunded as soon as practical under existing refund provisions
  • Supplement credit is in addition to the standard Section 272(1)(c) credit but prevents claiming any additional credit under Section 272(2)
  • Act applies retroactively effective for the 2022 tax year only

Legislative Description

Individual income tax: credit; earned income tax credit; increase. Amends 1967 PA 281 (MCL 206.1 - 206.846) by adding sec. 272a.

Individual income tax: credit

Last Action

Referred To Committee On Tax Policy

4/27/2023

Committee Referrals

Tax Policy4/27/2023
Housing And Human Services3/7/2023

Full Bill Text

No bill text available