December 11, 2007, Introduced by Reps. Meltzer, Horn and Hildenbrand and referred to the Committee on Tax Policy.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 253.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 253. (1) For the 2007 tax year, a taxpayer may claim a
credit against the tax imposed by this act equal to the expenses
incurred by the taxpayer during the tax year to comply with former
section 3d of the use tax act, 1937 PA 94.
(2) A taxpayer who claims the credit under this section shall
verify that the actual expenses incurred as a result of the
enactment of former section 3d of the use tax act, 1937 PA 94, are
the same number as used to calculate the credit under this section.
The taxpayer shall attach the verification to his or her annual
return under this act for the tax year in which the credit under
this section is claimed.
(3) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion that exceeds the tax liability shall be refunded.