SENATE BILL No. 1265

 

 

May 26, 2004, Introduced by Senators TOY, KUIPERS, GILBERT, McMANUS, BIRKHOLZ, GARCIA and ALLEN 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 269.                               

                                                                                

                THE PEOPLE OF THE STATE OF MICHIGAN ENACT:                      

                                                                                

1       Sec. 269.  (1) For tax years that begin after December 31,                  

                                                                                

2   2003, a taxpayer who removes or pays another person to remove an            

                                                                                

3   ash tree from his or her property because that ash tree is                  

                                                                                

4   infected by an emerald ash borer may claim a credit against the             

                                                                                

5   tax imposed by this act equal to the cost paid in the tax year              

                                                                                

6   for that removal or $500.00 for each tree removed, whichever is             

                                                                                

7   less.                                                                       

                                                                                

8       (2) If the amount of the credit allowed under this section                  

                                                                                

9   exceeds the tax liability of the taxpayer for the tax year, that            

                                                                                

10  portion of the credit that exceeds the tax liability shall not be           

                                                                                

11  refunded.