March 11, 2008, Introduced by Rep. Nitz and referred to the Committee on Agriculture.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 278.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 278. (1) For the 2009 tax year and each tax year before
January 1, 2015, a taxpayer may claim a credit against the tax
imposed by this act equal to $250.00 for the purchase of a new,
qualifying vehicle during the tax year.
(2) To claim the credit under this section the taxpayer shall
complete the form provided by the department, attach proof of the
purchase to that form, and file both with the taxpayer's annual
return for the tax year in which the taxpayer purchased that
vehicle for which the credit is claimed.
(3) If the credit allowed under this section for the tax year
and any unused carryforward of the credit allowed by this section
exceed the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall not be
refunded but may be carried forward to offset tax liability in
subsequent tax years until used up.
(4) As used in this section:
(a) "Qualified fuel cell motor vehicle", "advanced lean burn
technology motor vehicle", "qualified hybrid motor vehicle", and
"alternative fuel motor vehicle" mean those terms as defined under
section 30B of the internal revenue code.
(b) "Qualifying vehicle" means a qualified fuel cell motor
vehicle, an advanced lean burn technology motor vehicle, a
qualified hybrid motor vehicle, or an alternative fuel motor
vehicle.