Bill Text: MI HB5422 | 2017-2018 | 99th Legislature | Engrossed

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Bill Title: Individual income tax; credit; credit for certain qualified taxpayers; create. Amends 1967 PA 281 (MCL 206.1 - 206.713) by adding sec. 254. TIE BAR WITH: HB 5420'18, HB 5421'18

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2018-06-12 - Reassigned To Committee On Government Operations [HB5422 Detail]

Download: Michigan-2017-HB5422-Engrossed.html

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HB-5422, As Passed House, January 25, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

HOUSE BILL NO. 5422

 

 

 

 

 

 

 

 

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.713) by adding section 254.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 254. For the 2018 tax year and each tax year after 2018,

 

a qualified taxpayer may claim a $100.00 credit against the tax

 

imposed by this part for a single return and, except as otherwise

 

provided under this section, for a joint return. If each spouse

 

filing a joint return is a qualified taxpayer, then that taxpayer

 

may claim a $200.00 credit against the tax imposed by this part. If

 

the credit allowed under this section exceeds the tax liability of

 

the taxpayer for the tax year, that amount that exceeds the tax

 

liability shall be refunded. As used in this section, "qualified

 

taxpayer" means an individual who is 62 years of age or older at

 

the close of the tax year.

 

     Enacting section 1. This amendatory act does not take effect

 

unless all of the following bills of the 99th Legislature are

 

enacted into law:

 

     (a) House Bill No. 5420.

 

     (b) House Bill No. 5421.