November 3, 2005, Introduced by Senator GEORGE 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 275.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 275. (1) For tax years that begin after December 31,
2005, a taxpayer may claim a credit against the tax imposed under
this act equal to the premiums paid in the tax year for an
insurance plan or for health coverage that includes a health
wellness, maintenance, or improvement program component.
(2) The credit under this section shall be claimed only for
tax years for which the taxpayer demonstrates and can provide to
the department upon request evidence of demonstrative maintenance
or improvement of the individual's or a covered family member's
health status as determined pursuant to section 414b(2) of the
nonprofit health care corporation reform act, 1980 PA 350, MCL
550.1414b, or section 3426(2) of the insurance code of 1956, 1956
PA 218, MCL 500.3426.
(3) If the amount of the credit allowed 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 be
refunded.
(4) As used in this section, "insurance plan or health
coverage that includes a health wellness, maintenance, or
improvement program component" means a plan described in section
414b of the nonprofit health care corporation reform act, 1980 PA
350, MCL 550.1414b, or section 3426 of the insurance code of 1956,
1956 PA 218, MCL 500.3426.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 93rd Legislature are
enacted into law:
(a) Senate Bill No. 848.
(b) Senate Bill No. 849.