April 22, 2004, Introduced by Reps. Steil, Vander Veen, Sak, Voorhees, Kooiman, Hart and Huizenga and referred to the Committee on Tax Policy.
A bill to amend 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 39a.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 39a. (1) For tax years beginning after December 31,
2 2003, a taxpayer may claim a credit against the tax imposed by
3 this act equal to 25% of the amount the taxpayer donated in the
4 tax year to a nonprofit organization exempt under section
5 501(c)(3) of the internal revenue code to fund the construction
6 of an arts building.
7 (2) If the credit allowed under this section exceeds the tax
8 liability of the taxpayer under this act for the tax year, that
9 portion of the credit that exceeds the tax liability shall be
10 refunded.
11 (3) As used in this section:
1 (a) "Art" or "arts" means an original, visual creation of
2 quality executed in any size or shape, in any media, and using
3 any combination of materials.
4 (b) "Arts building" means a building or structure that houses
5 and displays art to the public.