January 22, 2008, Introduced by Senators BIRKHOLZ, KAHN, PAPPAGEORGE, BISHOP, SANBORN, ANDERSON, BASHAM, HARDIMAN, ALLEN, JANSEN, SWITALSKI, KUIPERS and RICHARDVILLE and referred to the Committee on Energy Policy and Public Utilities.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 253.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 253. (1) For the 2008 tax year and each tax year after
2008, a taxpayer that purchases and installs certain qualified home
improvements for his or her principal residence during the tax year
may claim a credit against the tax imposed by this act equal to 10%
of the amount paid by the taxpayer in the tax year for the purchase
and installation of each qualified home improvement or $100.00, or
for a husband and wife filing a joint return as provided in section
311, $200.00 for each qualified home improvement purchased and
installed during the tax year, whichever is less.
(2) To claim the credit allowed under this section, the
taxpayer shall, on a form or in a format as prescribed by the
department, provide verification of the amount paid for the
purchase and installation of the qualified home improvement along
with documentation of its compliance with the energy star energy
efficiency guidelines and attach that verification to its annual
return under this act for the tax year in which the credit under
this section is claimed.
(3) If 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.
(4) As used in this section, "qualified home improvement"
means any qualified energy star product intended for residential or
noncommercial use that meets or exceeds the applicable energy star
energy efficiency guidelines developed by the United States
environmental protection agency and the United States department of
energy, including, but not limited to, windows, doors, insulation,
high efficiency heating and cooling equipment, and any appliances
such as dishwashers, clothes washers, and refrigerators.