Bill Text: MI HB4524 | 2009-2010 | 95th Legislature | Introduced

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Bill Title: Income tax; credit; tax incentive for purchase of certain new motor vehicles; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.532) by adding sec. 254.

Spectrum: Slight Partisan Bill (Democrat 9-3)

Status: (Introduced - Dead) 2009-03-11 - Printed Bill Filed 03/11/2009 [HB4524 Detail]

Download: Michigan-2009-HB4524-Introduced.html

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HOUSE BILL No. 4524

 

March 10, 2009, Introduced by Reps. Polidori, Constan, LeBlanc, Spade, Rocca, Neumann, Rick Jones, Liss, Proos, Terry Brown, Clemente and Bennett 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 206.532) by adding section 254.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 254. (1) For tax years that begin after December 31,

 

2008, a taxpayer that purchases a qualified vehicle during the tax

 

year may claim a credit against the tax imposed by this act of

 

$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 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 manufactured

 

and marketed by general motors corporation, Ford motor company,

 

Chrysler limited liability company, or any of their subsidiaries

 

for the 2009 model year and each model year thereafter.