The bill would amend the Michigan Income Tax Act to repeal the State tuition tax credit as of January 1, 2001. The State tuition tax credit was first available for tax year 1995 for tuition payments made for the academic year 1995-96. The Act allows any Michigan-resident taxpayer with an adjusted gross income of $200,000 or less to claim a credit for tuition and fees paid by, or on behalf of, a student attending a qualified institution of higher learning. A taxpayer may claim a credit of 8.0% of the sum of all tuition and fees paid, not to exceed $375 per student for up to four tax years. The Act defines a qualified institution of higher learning as one that meets the following four criteria: a) is located in the State of Michigan; b) has instructional programs that are not composed solely of sectarian instruction or religious worship; c) is recognized by the State Board of Education and appears as an institution of higher learning in the annual publication "Directory of Institutions of Higher Education"; and d) did not increase tuition and fee rates by more than the annual average percentage increase in the U.S. Consumer Price Index (U.S. CPI) in the immediately preceding tax year.