March 1, 2005, Introduced by Senators OLSHOVE, CHERRY, SANBORN, PRUSI, BISHOP, SWITALSKI, SCHAUER, GARCIA, GOSCHKA, SCOTT, JACOBS, CROPSEY, TOY and BRATER and referred to the Committee on Finance.
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 who provides care for a parent who lived in the
taxpayer's home for 180 days or more during the tax year may claim
a credit against the tax imposed by this act equal to $1,000.00 for
each parent who meets the criteria of this section.
(2) If the amount of the credit exceeds the tax liability of
the taxpayer for the tax year, that portion of the credit that
exceeds the tax liability shall be refunded.
(3) As used in this section, "parent" means the birth or
adoptive mother or father, or stepmother or stepfather, of the
taxpayer or of either of the taxpayers if the taxpayers file a
joint return.