September 9, 2015, Introduced by Senators HANSEN, SCHUITMAKER and COLBECK and referred to the Committee on Finance.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.713) by adding section 268.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 268. (1) For tax years that begin after December 31,
2015, an eligible taxpayer may claim a credit against the tax
imposed by this act equal to the taxpayer's qualified adoption
expenses in excess of the amount of credit for qualified adoption
expenses the taxpayer claimed under section 23 of the internal
revenue code, or $1,200.00 per child, whichever is less.
(2) If the credit allowed under this section for the tax year
exceeds the taxpayer's tax liability for the tax year, that portion
that exceeds the tax liability for the tax year shall be refunded.
(3) As used in this section:
(a) "Eligible taxpayer" means a taxpayer that claimed a credit
under section 23 of the internal revenue code for the same tax year
that the taxpayer is claiming a credit under this section.
(b) "Qualified adoption expenses" means adoption expenses that
are eligible to be used by an eligible taxpayer to claim a credit
against the taxpayer's federal tax liability under section 23 of
the internal revenue code for the same tax year that the taxpayer
is claiming a credit under this section.