A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding section 280.
House Bill 4691 would amend the individual income tax provisions of the Income Tax Act to allow a taxpayer to claim a credit against tax liability equal to 50% of the taxpayer’s investment in certain Michigan-based businesses as certified by the Michigan Strategic Fund (MSF) and further described below. The total credits would be capped at $3,000 per taxpayer per business and $3,000 per taxpayer per year.
Co-sponsored by Reps.
Referred to the Committee on Tax Policy
