A bill to amend 1967 PA 281, entitled "An act to meet deficiencies in state funds by providing for the imposition, levy, computation, collection, assessment, reporting, payment, and enforcement by lien and otherwise of taxes on or measured by net income and on certain commercial, business, and financial activities; to prescribe the manner and time of making reports and paying the taxes, and the functions of public officers and others as to the taxes; to permit the inspection of the records of taxpayers; to provide for interest and penalties on unpaid taxes; to provide exemptions, credits, rebates, and refunds of the taxes; to create certain funds; to provide for the expenditure of certain funds; to impose certain duties and requirements on certain officials, departments, and authorities of this state; to prescribe penalties for the violation of this act; to provide an appropriation; and to repeal acts and parts of acts," (MCL 206.1 to 206.847) by adding section 261.
Senate Bill 127 would amend the Income Tax Act to create a nonrefundable individual income tax credit for donations or contributions to the endowment fund of a community foundation.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
Reported without amendment
Referred to the Committee of the Whole
Reported without amendment
Passed in the Senate 33 to 5 (details)
Referred to the Committee on Tax Policy
Reported with substitute H-1
Substitute H-1 concurred in by voice vote
Passed in the House 69 to 40 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Substitute S-1 offered
by
The substitute passed by voice vote
Substitute S-1 concurred in 28 to 8 (details)
