April 18, 2018, Introduced by Rep. Kosowski 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 206.713) by adding section 280.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 280. (1) For tax years that begin on and after January 1,
2019, subject to the limitations under this section, a qualified
taxpayer may claim a credit of $750.00 against the tax imposed by
this part. The credit allowed under this section shall be reduced
by 10% for each qualified taxpayer whose adjusted gross income
exceeds $50,000.00 and by an additional 10% for each increment of
$1,000.00 of adjusted gross income in excess of $50,000.00.
(2) If the credit allowed under this section exceeds the tax
liability of the qualified taxpayer for the tax year, that portion
of the credit that exceeds the tax liability shall not be refunded.
(3) As used in this section:
(a) "Qualified taxpayer" means a veteran who separated from
military service during the tax year and who satisfies at least 1
of the following:
(i) Has served at least 20 years in the military.
(ii) Has been determined by the United States Department of
Veterans Affairs to be permanently and totally disabled as a result
of military service and entitled to veterans' benefits at the 100%
rate.
(iii) Has been determined by the United States Department of
Veterans Affairs to be eligible for pension or other retirement
benefits for services in the United States Armed Forces.
(b) "Veteran" means an individual who served in the United
States Armed Forces, including reserve components, and was
discharged or released under conditions other than dishonorable.