Bill Text: MI SB0377 | 2009-2010 | 95th Legislature | Introduced

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Bill Title: Income tax; credit; 1-year tax credit for purchase of certain new vehicles; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.532) by adding sec. 277.

Spectrum: Moderate Partisan Bill (Republican 8-1)

Status: (Introduced - Dead) 2009-03-12 - Referred To Committee On Finance [SB0377 Detail]

Download: Michigan-2009-SB0377-Introduced.html

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SENATE BILL No. 377

 

 

March 12, 2009, Introduced by Senators BROWN, JELINEK, BARCIA, GARCIA, JANSEN, HARDIMAN, CROPSEY, BIRKHOLZ and KAHN and referred to the Committee on Finance.

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.532) by adding section 277.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 277. (1) For the 2009 tax year only, a taxpayer that

 

purchases a qualified vehicle during the 2009 tax year may claim a

 

credit against the tax imposed by this act equal to $1,000.00.

 

     (2) 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 not be

 

refunded.

 

     (3) As used in this section:

 

     (a) "New motor vehicle" means that term as defined in section

 

33a of the Michigan vehicle code, 1949 PA 300, MCL 257.33a.

 

     (b) "Qualified vehicle" means a new motor vehicle that has a

 

fuel economy rating of at least 20 miles per gallon as determined

 

by the United States environmental protection agency.