House Bill 5031

Committee: Tax Policy

Complete to 6-1-98

A SUMMARY OF HOUSE BILL 5031 AS INTRODUCED 7-9-97

The bill would amend the Income Tax Act to allow a tax credit of $20 for a single return of a taxpayer with an adjusted gross income of $20,000 or less or $40 for a joint return of a taxpayer with an adjusted gross income of $40,000 or less, if the taxpayer:

-- was a state resident;

-- had a valid driver license;

-- had a motor vehicle registered in the state that was driven 10,000 miles or more during the tax year; and

-- had the required no-fault auto insurance coverages required by the Insurance Code.

The credit would be non-refundable; that is, if the credit exceeds the taxpayer's tax liability, the excess would not be returned as a refund.

MCL 206.266

Analyst: C. Couch

This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.