September 19, 2007, Introduced by Senators KAHN, VAN WOERKOM, KUIPERS, CROPSEY, RICHARDVILLE, GARCIA, JANSEN, STAMAS, ALLEN, HARDIMAN, BIRKHOLZ, BROWN, GILBERT, PAPPAGEORGE, SANBORN and BISHOP and referred to the Committee on Finance.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
by amending section 30d (MCL 206.30d), as amended by 2000 PA 42.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 30d. (1) The amendatory act that added this section shall
be known as the "child care act of 1997".
(2) For the 1998 tax year and for tax years that begin in
1999, taxable income for purposes of this act equals taxable income
as determined under section 30 from which a taxpayer may deduct the
following amounts:
(a) An amount equal to $600.00 multiplied by the number of
exemptions claimed by the taxpayer under section 30(2) in the tax
year for dependents of the taxpayer who are children younger than 7
years of age on the last day of the tax year.
(b) An amount equal to $300.00 multiplied by the number of
exemptions claimed by the taxpayer under section 30(2) in the tax
year for dependents of the taxpayer who are children and who are at
least 7 years of age and younger than 13 years of age on the last
day of the tax year.
(3) For tax years that begin after 1999 and before January 1,
2008, taxable income for purposes of this act equals taxable income
as determined under section 30 from which a taxpayer may deduct an
amount equal to $600.00 multiplied by the number of exemptions
claimed by the taxpayer under section 30(2) in the tax year for
dependents of the taxpayer who are children younger than 19 years
of age on the last day of the tax year.
(4) For tax years that begin on and after January 1, 2008,
taxable income for purposes of this act equals taxable income as
determined under section 30 from which a taxpayer may deduct an
amount equal to $700.00 multiplied by the number of exemptions
claimed by the taxpayer under section 30(2) in the tax year for
dependents of the taxpayer who are children younger than 19 years
of age on the last day of the tax year.