Michigan HB4387 provides a tax credit for qualified expenses related to repairs and restoration after a declared state of emergency.
Michigan HB4387 amends the Michigan income tax law to allow a tax credit for qualified expenses incurred by taxpayers in areas affected by a declared state of emergency. For the 2025 tax year, qualified taxpayers can claim a credit for expenses up to $5,000 to clean up, repair, restore, or rebuild their homes, properties, or businesses. Qualified expenses include purchases of generators, chainsaws, and building materials. The credit can be claimed by residents of counties within the emergency area declared by the governor on March 31, 2025, due to severe winter weather and ice storms.
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