January 31, 2007, Introduced by Senators BROWN, BIRKHOLZ, KAHN and PAPPAGEORGE and referred to the Committee on Finance.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 273.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 273. (1) For tax years that begin after December 31,
2006, a taxpayer that purchased an alternative energy vehicle
during the tax year may claim a credit against the tax imposed by
this act equal to $1,000.00.
(2) If the amount of 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 not be
refunded.
(3) As used in this section, "alternative energy vehicle"
means that term as defined in section 2 of the Michigan next energy
authority act, 2003 PA 593, MCL 207.822.