February 1, 2005, Introduced by Senators CASSIS, GOSCHKA, OLSHOVE, McMANUS, HARDIMAN and CROPSEY and referred to the Committee on Finance.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 272.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 272. (1) For tax years that begin after December 31,
2004, a taxpayer may claim a credit against the tax imposed by this
act equal to the contribution made in the tax year to a qualified
organization not to exceed $50.00 for a single return or $100.00
for a joint return.
(2) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall be
refunded.
(3) As used in this section, "qualified organization" means an
entity that is exempt from taxation pursuant to section 501(c)(3)
of the internal revenue code, that was organized before January 1,
2005, and that assists in relief efforts related to the December
26, 2004 tsunami in Asia and Africa.