June 29, 2005, Introduced by Senators GARCIA, CASSIS, CROPSEY, BIRKHOLZ and GOSCHKA and referred to the Committee on Economic Development, Small Business and Regulatory Reform.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 272.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 272. (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 30% of the cost paid by the taxpayer in the
immediately preceding calendar year associated with compliance with
any rule or regulation adopted by any state agency of this state.
(2) A taxpayer shall attach an affidavit to the annual return
required by this act on which a credit under this section is
claimed that substantiates the amounts used to calculate the credit
under subsection (1).
(3) 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.