March 21, 2007, Introduced by Senator JANSEN 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 436.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 436. (1) For the 2008 tax year and each tax year after
2008, a taxpayer may designate in a manner and form as prescribed
by the department on his or her annual return that a contribution
of $5.00, $10.00, or more of his or her refund be credited to the
Michigan housing and community development fund created in section
3 of the Michigan housing and community development fund act, 2004
PA 479, MCL 125.2823.
(2) If a taxpayer's refund is not sufficient to make a
contribution under this section, the taxpayer may designate a
contribution amount and that contribution amount shall be added to
the taxpayer's tax liability for the tax year.
(3) Notwithstanding any other allocations or disbursements
required by this act, each year that a contribution designation
under this section is in effect, an amount equal to the cumulative
designations made under this section, less the amount appropriated
to the department to implement this section, shall be appropriated
from the general fund and distributed to the department responsible
for administering the Michigan housing and community development
fund created in section 3 of the Michigan housing and community
development fund act, 2004 PA 479, MCL 125.2823, and shall be used
solely for the purposes of that fund.
(4) Money appropriated pursuant to an appropriations act as
required by law in accordance with this section to the appropriate
department responsible for administering the Michigan housing and
community development fund created in section 3 of the Michigan
housing and community development fund act, 2004 PA 479, MCL
125.2823, shall be in addition to any other allocation or
appropriation and is intended to enhance appropriations from the
general fund and not to replace or supplant those appropriations.