June 7, 2006, Introduced by Senator THOMAS and referred to the Committee on Finance.
A bill to amend 1975 PA 228, entitled
"Single business tax act,"
(MCL 208.1 to 208.145) by adding section 36f.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 36f. (1) For tax years that begin after December 31,
2005, a taxpayer may claim a credit against the tax imposed by this
act equal to the amount of a work opportunity tax credit under
section 51 of the internal revenue code, claimed by the taxpayer
for the same tax year.
(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.