March 30, 2004, Introduced by Reps. Meyer, Amos, LaJoy, Nitz, Wenke and Vander Veen and referred to the Committee on Agriculture and Resource Management.
A bill to amend 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 37f.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 37f. (1) For tax years that begin after December 31,
2 2003, a taxpayer who removes ash trees from the property of
3 another person because the ash trees are infected by an emerald
4 ash borer and charges that person less than the actual cost of
5 the removal may claim a credit against the tax imposed by this
6 act equal to the difference between the actual cost and the
7 amount paid for the removal or $5,000.00, whichever is less.
8 (2) If the credit allowed under this section for the tax year
9 and any unused carryforward of the credit allowed under this
10 section exceed the tax liability of the taxpayer for the tax
11 year, the excess shall not be refunded, but may be carried
1 forward as an offset to the tax liability in subsequent tax years
2 for 10 tax years or until the excess credit is used up, whichever
3 occurs first.