June 12, 2007, Introduced by Reps. Miller, Kathleen Law, Espinoza, Vagnozzi, Polidori, Meisner, Alma Smith and Accavitti 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 278.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 278. (1) For tax years that begin after December 31,
2006, a taxpayer may claim a credit against the tax imposed by this
act equal to the 50% of the cost paid by the taxpayer, not to
exceed $5,000.00, for qualified renovations made to the home of the
taxpayer if the taxpayer is either of the following:
(a) A senior citizen or person with a disability who makes
renovations to his or her own home.
(b) A taxpayer, other than a taxpayer described in subdivision
(a), if a senior citizen or person with a disability lives in the
home of the taxpayer who makes the qualified renovations.
(2) The credit allowed under this section shall be taken only
in the year in which all qualified renovations for which a credit
under this section will be claimed are completed and shall be
claimed for only 1 tax year for qualified renovations made by or on
behalf of any 1 senior citizen or person with a disability.
(3) If the credit allowed under this section exceeds the tax
liability of the taxpayer for the tax year, the amount by which the
credit exceeds the taxpayer's tax liability shall be refunded.
(4) As used in this section:
(a) "Home" means a principal residence exempt under section
7cc of the general property tax act, 1893 PA 206, MCL 211.7cc.
(b) "Qualified renovations" means renovations, additions, or
other construction made to a home that are any of the following:
(i) Changes to accommodate the physical needs of a senior
citizen or person with a disability, including, but not limited to,
bath bars, ramps, door widening, access changes, and refitting of
fixtures.
(ii) Addition of a room.
(iii) Any change to the home that is made to meet local or state
building codes, ordinances, statutes, or rules that regulate
housing for persons with disabilities.
(iv) Safety features.
(c) "Person with a disability" means that term as defined in
section 103 of the persons with disabilities civil rights act, 1976
PA 220, MCL 37.1103.
(d) "Senior citizen" means a person who is 65 years of age or
older on the last day of the tax year in which the credit under
this section is claimed.