February 15, 2005, Introduced by Senators PATTERSON, GILBERT, HARDIMAN, BISHOP, BROWN, GARCIA, KUIPERS, HAMMERSTROM, CROPSEY, ALLEN, BIRKHOLZ, GOSCHKA and SANBORN and referred to the Committee on Health Policy.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 272.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 272. (1) For tax years that begin after December 31,
2004, a taxpayer, other than a resident estate or trust, may claim
a credit against the tax imposed by this act equal to the
contributions made by the taxpayer to a health savings account.
(2) If the amount of the credit 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 not be refunded.
(3) As used in this section, "health savings account" means a
health savings account that meets the requirements of section 223
of the internal revenue code.