Introduced
by
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). According to a House Fiscal Agency <a href="http://www.legislature.mi.gov/documents/2011-2012/billanalysis/House/pdf/2011-HLA-4361-8.pdf ">analysis</a>, this increase would cost $261 million annually.
Referred to the Committee on Finance
