Bill Text: MI HB4476 | 2013-2014 | 97th Legislature | Introduced

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Bill Title: Individual income tax; credit; contributions to charitable organizations; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 253.

Spectrum: Slight Partisan Bill (Democrat 4-2)

Status: (Introduced - Dead) 2013-03-20 - Printed Bill Filed 03/20/2013 [HB4476 Detail]

Download: Michigan-2013-HB4476-Introduced.html

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HOUSE BILL No. 4476

 

March 19, 2013, Introduced by Reps. Singh, Howrylak, Schmidt, Greimel, Brown and LaVoy and referred to the Committee on Tax Policy.

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.713) by adding section 253.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 253. (1) For tax years that begin after December 31, 2012

 

and subject to the applicable limitations in this section, a

 

taxpayer may claim a credit against the tax imposed by this part

 

equal to 50% of the aggregate amount of charitable contributions

 

made by the taxpayer during the tax year to qualified charitable

 

organizations.

 

     (2) The amount allowable as a credit under this section for a

 

tax year shall not exceed $100.00, or for a husband and wife filing

 

a joint return as provided in section 311, $200.00.

 

     (3) If the credit allowed under this section exceeds the tax

 

liability of the taxpayer for the tax year, that amount that

 

exceeds the tax liability shall not be refunded.

 

     (4) As used in this section, "qualified charitable

 

organization" means an organization that is exempt from taxation

 

under section 501(c)(3) of the internal revenue code and that is

 

registered with the attorney general in accordance with the

 

charitable organizations and solicitations act, 1975 PA 169, MCL

 

400.271 to 400.294.