Legislation watch
Mackinac Center for Public Policy
Capitol Building

2012 House Bill 5769: Increase EITC; authorize savings account grants
  1. Introduced by Rep. Jim Ananich (D) on July 18, 2012, to increase the state earned income tax credit from an amount equal to 6 percent of the federal EITC, to 20 percent. This is a “refundable” credit for low income workers (meaning that a check is sent to the taxpayer for the balance of the credit exceeding taxes owed). Also, to give up to $150 in matching grants to an EITC recipient who places at least $50 in a “qualified savings account,” the nature of which would be determined by the Department of Treasury.
    • Referred to the House Tax Policy Committee on July 18, 2012.

Comments

2012 House Bill 5769 (Increase EITC; authorize savings account grants )  by admin on February 27, 2013 
Introduced in the House on July 18, 2012

Click here to view bill details.