SB-0749, As Passed Senate, January 23, 2018

SUBSTITUTE FOR

SENATE BILL NO. 749

A bill to amend 1967 PA 281, entitled

"Income tax act of 1967,"

(MCL 206.1 to 206.713) by adding section 272a.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 272a. (1) For tax years that begin on and after January

1, 2018, a taxpayer may claim a credit against the tax imposed by

this part in an amount equal to 100% of the credit the taxpayer is

allowed to claim as a credit under section 21 of the internal

revenue code for a tax year on a return filed under this part for

the same tax year.

(2) If the credit allowed by this section 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.

Enacting section 1. This amendatory act does not take effect