HB 4430
Individual income tax: credit; credit for certain qualified dependents; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 281.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a new tax credit for Michigan residents to help offset the cost of education for children who meet specific criteria. The credit is equal to the ‘target foundation allowance’ as defined in the state school aid act, and it’s available for each qualified dependent for whom an exemption was claimed. The dependent must be at least 5 but under 19 years old, not enrolled in public school, and demonstrate proficiency in reading and math. Any credit exceeding the taxpayer’s tax liability will be refunded.
Sponsors
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Primary sponsor
Cosponsors
Bradley Slagh
Gregory Markkanen
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