Bill Text: MI SB0103 | 2011-2012 | 96th Legislature | Introduced

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Bill Title: Income tax; credit; earned income tax credit; eliminate. Amends sec. 272 of 1967 PA 281 (MCL 206.272).

Spectrum: Partisan Bill (Republican 7-0)

Status: (Introduced - Dead) 2011-02-08 - Referred To Committee On Finance [SB0103 Detail]

Download: Michigan-2011-SB0103-Introduced.html

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SENATE BILL No. 103

 

 

February 8, 2011, Introduced by Senators KAHN, NOFS, PAVLOV, MEEKHOF, JONES, BRANDENBURG and BOOHER and referred to the Committee on Finance.

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

by amending section 272 (MCL 206.272), as added by 2006 PA 372.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 272. (1) For the following tax years that begin after

 

December 31, 2007 and before January 1, 2011, a taxpayer may credit

 

against the tax imposed by this act an amount equal to the

 

specified percentages of the credit the taxpayer is allowed to

 

claim as a credit under section 32 of the internal revenue code for

 

a tax year on a return filed under this act for the same tax year:

 

     (a) For tax years that begin after December 31, 2007 and

 

before January 1, 2009, 10%.

 

     (b) For tax years that begin after December 31, 2008 and

 

before January 1, 2011, 20%.

 

     (2) If the credit allowed by this section exceeds the tax

 

liability of the taxpayer for the tax year, the state treasurer

 

shall refund the excess to the taxpayer without interest, except as

 

provided in section 30 of 1941 PA 122, MCL 205.30.