A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding section 281.
Allows Michigan taxpayers to claim a credit against their state income tax. This credit is equal to the target foundation allowance for each qualified dependent, as defined by the state school aid act of 1979, for whom an exemption was claimed in that tax year. The credit is refundable if it exceeds the taxpayer's liability.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
