May 22, 2008, Introduced by Rep. Sak and referred to the Committee on Health Policy.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 277.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 277. (1) For tax years that begin after December 31,
2008, a taxpayer may, subject to the limitations under this
section, claim a credit against the tax imposed by this act equal
to 50% of the cost of interim controls and lead abatement to the
taxpayer's principal residence and to residential rental property
owned by the taxpayer. Any cost of the interim controls or lead
abatement that is paid for by or reimbursed from any state or
federal funds shall not be used in the calculation of the credit
under this section.
(2) The credit allowed under this section shall not exceed the
following:
(a) For lead abatement, $5,000.00 for a principal residence
and for each dwelling or unit of the residential rental property.
(b) For interim controls, $5,000.00 for a principal residence
and for each dwelling or unit of the residential rental property.
(3) If the amount of the credit exceeds the tax liability of
the taxpayer for the tax year, that portion of the credit that
exceeds the tax liability shall not be refunded.
(4) A taxpayer that claims a credit under this section shall
retain all of the following records to support that claim and make
all documentation available to the department upon request:
(a) Receipts for all costs used as a basis for the credit.
(b) A copy of the report from a lead hazard risk assessment
performed by a certified risk assessor that demonstrates the
existence of a lead-based paint hazard or dust lead hazard to the
taxpayer's principal residence or to each dwelling or unit of the
residential rental property owned by the taxpayer.
(c) A copy of the report from a clearance testing performed by
a clearance professional on the residence, dwelling, or unit after
the lead abatement or interim controls by the taxpayer that
demonstrates that the lead-based paint hazard and dust lead hazard
to the taxpayer's principal residence or to each dwelling or unit
of the residential rental property has been remediated or abated or
that interim controls have been performed to control the lead-based
paint hazard or dust lead hazard.
(5) As used in this section:
(a) "Abatement", "certified risk assessor", "clearance
professional", "dust lead hazard", "interim controls", "lead-based
paint", and "lead-based paint hazard" mean those terms as defined
under part 54A of the public health code, 1978 PA 368, MCL 333.5451
to 333.5477. However, "abatement" for purposes of this section does
include any lead-based paint activity performed by the taxpayer on
the taxpayer's principal residence or by the taxpayer on
residential rental property owned by the taxpayer.
(b) "Principal residence" means that term as defined in
section 7dd of the general property tax act, 1893 PA 206, MCL
211.7dd.
(c) "Residential rental property" means that term as defined
in section 7ff of the general property tax act, 1893 PA 206, MCL
211.7ff.