Michigan SB0118 proposes a tax credit for qualified dependents not enrolled in public school and proficient in reading and math.
Michigan SB0118 amends the Michigan income tax law to introduce a credit for qualified dependents. A taxpayer can claim this credit for each dependent who is at least 5 years old but younger than 19, not enrolled in a public school, and proficient in reading and math. The credit amount equals the target foundation allowance for the school year. If the credit exceeds the taxpayer's tax liability, the excess will be refunded.
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