HB-5680, As Passed House, November 10, 2010

 

 

 

 

 

 

 

 

 

 

 

SUBSTITUTE FOR

 

HOUSE BILL NO. 5680

 

 

 

 

 

 

 

 

 

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

by amending section 253 (MCL 206.253), as added by 2008 PA 287.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 253. (1) Except as otherwise provided under this

 

subsection, for tax years that begin after December 31, 2008 and

 

before January 1, 2012, a taxpayer with adjusted gross income equal

 

to or less than $37,500.00 or for a husband and wife filing a joint

 

return as provided in section 311 with adjusted gross income equal

 

to or less than $75,000.00 who purchases and installs a qualified

 

home improvement for his or her principal residence during the tax

 

year may claim a credit against the tax imposed by this act equal

 

to 10% of the amount paid by the taxpayer in the tax year for the

 

purchase and installation of each qualified home improvement or


 

$75.00, or for a husband and wife filing a joint return, $150.00,

 

whichever is less, for each qualified home improvement purchased

 

and installed during the tax year. However, a taxpayer shall not

 

claim more than 1 credit under each subparagraph of subsection

 

(3)(c) during the same tax year. To claim the credit allowed under

 

this subsection, the taxpayer shall, in the manner required by the

 

department, provide verification of the amount paid for the

 

purchase and installation of the qualified home improvement along

 

with documentation of its compliance with the energy star energy

 

efficiency guidelines. If the credit allowed under this subsection

 

exceeds the tax liability of the taxpayer for the tax year, that

 

portion of the credit that exceeds the tax liability shall be

 

refunded.

 

     (2) For tax years that begin after December 31, 2008 and

 

before December 31 January 1, 2012, a taxpayer with adjusted gross

 

income equal to or less than $65,000.00 or for a husband and wife

 

filing a joint return as provided in section 311 equal to or less

 

than $130,000.00 may claim a credit against the tax imposed by this

 

act equal to the percentages provided by this subsection of the

 

amount authorized for the customer's electric utility or the

 

customer's municipally owned electric utility under section

 

45(2)(a) of the clean, renewable, and efficient energy act, 2008 PA

 

295, MCL 460.1045, and paid during the tax year. If the credit

 

allowed under this subsection exceeds the tax liability of the

 

taxpayer for the tax year, that portion of the credit that exceeds

 

the tax liability shall not be refunded. The percentages of the

 

amounts authorized shall be as follows:


 

     (a) For tax years that begin after December 31, 2008 and

 

before January 1, 2010, 25%.

 

     (b) For tax years that begin after December 31, 2009 and

 

before January 1, 2012, 20%.

 

     (3) As used in this section:

 

     (a) "Electric utility" means that term as defined under

 

section 10g of 1939 PA 3, MCL 460.10g and includes an alternative

 

electric supplier as that term is defined under section 10g of 1939

 

PA 3, MCL 460.10g.

 

     (b) "Principal residence" means that term as defined in

 

section 7dd of the general property tax act, 1893 PA 206, MCL

 

211.7dd, and exempt from taxation under section 7cc of the general

 

property tax act, 1893 PA 206, MCL 211.7cc.

 

     (c) "Qualified home improvement" means the following items

 

intended for residential or noncommercial use that meet or exceed

 

the applicable energy star energy efficiency guidelines developed

 

by the United States environmental protection agency and the United

 

States department of energy:

 

     (i) Insulation.

 

     (ii) Furnaces.

 

     (iii) Water heaters.

 

     (iv) Windows.

 

     (v) Refrigerators, clothes washers, and dishwashers.