Individual income tax: credit; working parent tax credit and advanced monthly payments of that credit; create and provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 272b.
Take action
Take a stance or write a position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill creates a new working parent tax credit in Michigan. Starting in 2025, eligible taxpayers with qualifying dependents (ages 4 or under) can claim a credit of up to $5,500 per dependent. The state will also distribute advance monthly payments of this credit to eligible taxpayers, with the amount adjusted based on prior payments and taxpayer income, up to a maximum of 150% of the state median income.
Key provisions
- Establishes a $5,500 working parent tax credit for each qualified dependent.
- Monthly advance payments of the credit will be distributed to eligible taxpayers.
- Payments are capped at 150% of the state median income.
- The credit is reduced by any prior advance payments received.
- Qualified dependents must be 4 years of age or under.
- Rx Kids program participants are ineligible for the credit.
- The department will provide notice of advance payments to eligible taxpayers.
- Payments can be made electronically or by check.
Who is affected
- Taxpayers with young children
- Families with incomes up to 150% of the state median income
- Michigan residents
Notable changes
- Introduces a new state-level tax credit.
- Establishes a system for distributing advance monthly payments.
- Defines eligibility criteria based on income and dependent age.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Senate Introduced Bill
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
No sponsors are on record.
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours