HB-5091, As Passed Senate, November 9, 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

SENATE SUBSTITUTE FOR

 

HOUSE BILL NO. 5091

 

 

 

 

 

 

 

 

 

 

 

 

     A bill to amend 1967 PA 281, entitled

 

"Income tax act of 1967,"

 

(MCL 206.1 to 206.532) by adding section 437.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 437. (1) For the 2006 tax year and each tax year after

 

the 2006 tax year, an individual may designate on his or her annual

 

return that a contribution of $2.00 or more of his or her refund be

 

credited to the Michigan higher education assistance authority

 

created in section 1 of 1960 PA 77, MCL 390.951, for the children

 

of veterans tuition grant program created in the children of

 

veterans tuition grant program act. If an individual's refund is

 

not sufficient to make a contribution under this section, the

 

individual may designate a contribution amount and that


 

contribution amount shall be added to the individual's tax

 

liability for the tax year.

 

     (2) The tax designation authorized in this section shall be

 

clearly and unambiguously printed on the first page of the state

 

individual income tax return forms, if practical.

 

     (3) Notwithstanding any other allocations or disbursements

 

required by this act, each year that the contribution designation

 

under this section is in effect, an amount equal to the cumulative

 

contributions made under this section shall be appropriated from

 

the general fund to the children of veterans tuition grant program

 

of the Michigan higher education assistance authority, and the

 

funds shall be distributed for programs allowed under the children

 

of veterans tuition grant act. No money from the contributions made

 

pursuant to this section shall be used for the purpose of

 

administering this section.

 

     Enacting section 1. This amendatory act does not take effect

 

unless all of the following bills of the 93rd Legislature are

 

enacted into law:

 

     (a) House Bill No. 4001.

 

     (b) House Bill No. 4002.