Bill Text: MI HB5163 | 2019-2020 | 100th Legislature | Introduced


Bill Title: Individual income tax; credit; tax incentive for contributions made to state and local candidates; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 280.

Spectrum: Partisan Bill (Democrat 13-0)

Status: (Introduced - Dead) 2019-10-30 - Bill Electronically Reproduced 10/30/2019 [HB5163 Detail]

Download: Michigan-2019-HB5163-Introduced.html

 

 

 

 

 

 

 

 

 

 

 

HOUSE BILL NO. 5163

October 29, 2019, Introduced by Reps. LaGrand, Brixie, Garza, Stone, Hood, Haadsma, Hope, Bolden, Ellison, Hammoud, Wittenberg, Shannon and Peterson 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, a taxpayer may claim a credit against the tax imposed by this part equal to the amount contributed in the tax year to a candidate committee or candidate for a state elective office or a local elective office in this state. A taxpayer shall not claim a credit under this section for contributions made to an independent committee or a political committee.

(2) The credit allowed under this section shall not exceed $50.00 for a single return or $100.00 for a joint return.

(3) To claim the credit under this section, the taxpayer shall, in a form and manner as prescribed by the department, provide verification of the amounts claimed to have been contributed during the tax year.

(4) As used in this section, "candidate", "candidate committee", "local elective office", "independent committee", "political committee", and "state elective office" mean those terms as defined in the Michigan campaign finance act, 1976 PA 388, MCL 169.201 to 169.282.

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