November 7, 2007, Introduced by Reps. Young, Miller, Griffin, Cushingberry, Robert Jones and Clack and referred to the Committee on Tax Policy.
A bill to amend 2007 PA 36, entitled
"Michigan business tax act,"
(MCL 208.1101 to 208.1601) by adding section 451.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 451. (1) A taxpayer that provides or administers to its
employees additional education or employment training, or both, may
claim a credit against the tax imposed by this act equal to the sum
of 10% of the qualified expenses incurred by the taxpayer during
the tax year for the provision or administration of the additional
education or employment training program. The credit allowed under
this section shall not exceed $500.00 for each employee who
participated in the education or training program provided or
administered by the taxpayer during the tax year.
(2) 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.
(3) The credit allowed under this section shall be claimed in
a manner and form as prescribed by the department. The department
may require the taxpayer to furnish information as it determines
necessary to support a claim for a credit under this section.
(4) As used in this section, "qualified expenses" means the
costs of classroom instruction, training, and related expenses
identified as costs for which the taxpayer is responsible under the
education or employment training program being offered to the
employees. Qualified expenses include, but are not limited to,
tuition, fees, books, and other items necessary for participation
in the education or training program.
Enacting section 1. This amendatory act takes effect January
1, 2008.