Introduced
by
To authorize a refundable income tax credit worth 25 percent of the amount paid during a year on a college loan by a state resident who is employed, which could be claimed by an individual who either graduated from a Michigan high school or has received a degree of certificate from a college or university in this state. The credit would be 50 percent of the loan payment if both factors apply (got a high school diploma and a college degree in Michigan). The annual credit would be capped at 20 percent of the average college tuition charged by state universities.
Referred to the Committee on Tax Policy
