MI SB0132

Creates a tax credit equal to 50% of contributions made to endowment funds of certified community foundations, effective for tax years beginning January 1, 2026

Caps the credit at $100 for individual filers and $200 for joint returns; resident estates or trusts may claim up to 10% of their tax liability or $5,000, whichever is less

Requires taxpayers to obtain a gift acknowledgment from the community foundation to claim the credit, and excess credits are non-refundable

Defines eligible community foundations as those certified by the department with at least $1,000,000 in assets that apply for certification by May 15 of the applicable tax year

Mandates the department report total credits claimed to the House Finance Committee and Senate Finance, Insurance, and Consumer Protection Committee by July 1 annually