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 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 35c.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 35c. (1) For tax years that begin after December 31,
2005, a taxpayer may claim a credit against the tax imposed by this
act equal to the contributions made by the taxpayer to a health
savings account on behalf of the taxpayer or the taxpayer's
employees.
(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 carried forward
or refunded.
(3) As used in this section, "health savings account" means a
health savings account that meets all of the requirements of
section 223 of the internal revenue code.