Bill Text: MI HB4514 | 2009-2010 | 95th Legislature | Engrossed
Bill Title: Income tax; credit; eligibility for state earned income tax credit; require taxpayer to be resident for at least 6 months. Amends sec. 272 of 1967 PA 281 (MCL 206.272). TIE BAR WITH: SB 0838'09, SB 0884'09
Spectrum: Moderate Partisan Bill (Democrat 10-2)
Status: (Introduced - Dead) 2010-02-25 - Laid Over One Day Under The Rules [HB4514 Detail]
Download: Michigan-2009-HB4514-Engrossed.html
HB-4514, As Passed House, March 18, 2009
SUBSTITUTE FOR
HOUSE BILL NO. 4514
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
by amending section 272 (MCL 206.272), as added by 2006 PA 372.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec.
272. (1) For the following tax years that begin tax year
that begins after December 31, 2007 and before January 1, 2009, a
taxpayer may credit against the tax imposed by this act an amount
equal
to the specified percentages 10%
of the credit the taxpayer
is allowed to claim as a credit under section 32 of the internal
revenue code for a tax year on a return filed under this act for
the
same tax year. :
(a)
For tax years that begin after December 31, 2007 and
before
January 1, 2009, 10%.
(2) (b)
For tax years that begin after December 31, 2008,
a
taxpayer may credit against the tax imposed by this act an amount
equal to 20% of the credit the taxpayer is allowed to claim as a
credit under section 32 of the internal revenue code for a tax year
on a return filed under this act for the same tax year as long as
the taxpayer was a resident of this state for at least 6 months of
that same tax year.
(3) (2)
If the credit allowed by this
section exceeds the tax
liability of the taxpayer for the tax year, the state treasurer
shall refund the excess to the taxpayer without interest, except as
provided in section 30 of 1941 PA 122, MCL 205.30.
