MI HB5063

Creates a $50 tax credit for taxpayers who voluntarily foster animals in their personal residence for at least 7 days for a qualified organization, effective for tax years beginning January 1, 2026

Allows an additional $50 credit for each additional 30 days a taxpayer fosters the same animal, with a maximum of 5 animals eligible for credit per tax year

Requires taxpayers to submit verification from the qualified organization documenting the foster agreement and duration to claim the credit

Adjusts the credit amount annually beginning in 2027 based on the U.S. Consumer Price Index, rounded to the nearest $5 increment

Credit is non-refundable and applies to fostering through 501(c)(3) nonprofit animal rescues/shelters or animal control/protection shelters registered with the Michigan Department of Agriculture