A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” (MCL 206.1 to 206.847) by adding section 280.
This amendment allows taxpayers, starting from the tax year 2024, to claim a credit against their income tax for the sales or use tax paid on textbooks purchased for themselves or their dependents, provided they are eligible students. Eligible students are defined as those who have been awarded a federal Pell grant and are attending an eligible institution in Michigan while maintaining satisfactory academic progress. The bill specifies that if the credit exceeds the taxpayer's liability, the excess will be refunded. It also outlines the requirements for eligible institutions, students, and the definition of textbooks and sales or use tax.
Co-sponsored by Sens.
Referred to the Committee on Finance, Insurance, and Consumer Protection
