August 16, 2017, Introduced by Rep. Marino 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 280.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 280. (1) For tax years that begin after December 31,
2018, subject to the limitations under this section a taxpayer may
claim a credit against the tax imposed by this part equal to the
amount paid during the tax year for textbooks purchased and used by
the taxpayer or a dependent of the taxpayer that are required for
classes taken by the taxpayer or a dependent of that taxpayer for
that same tax year at an institution of higher education in this
state. A taxpayer shall not include any payments made for textbooks
that were paid from an education savings account or any payments
for which the taxpayer was otherwise reimbursed.
(2) A taxpayer shall not claim more than $500.00 in costs
under this section for each taxpayer and each dependent of the
taxpayer per tax year. The maximum amount allowed under this
section to be claimed in a tax year is $2,000.00 for a single
return and $2,500.00 for a joint return.
(3) The department may require reasonable proof from the
taxpayer in support of the payments claimed under this section.
(4) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall be
refunded.
(5) As used in this section:
(a) "Dependent" means that term as defined in section 30e.
(b) "Education savings account" means an education savings
account established under the Michigan education savings program
act, 2000 PA 161, MCL 390.1471 to 390.1486.
(c) "Institution of higher education" means a public college,
university, community college, junior college, or trade,
vocational, or occupational school that offers a degree or
certificate.