Establishes a working parent tax credit and monthly advance payments for qualified taxpayers in Michigan.

The bill amends Michigan's individual income tax law to create a working parent tax credit of $5,500 for each qualified dependent aged four or younger. A qualified taxpayer is defined as someone with a household income not exceeding 150% of the state median income. The Michigan Department of Treasury will establish a program to issue monthly advance payments to eligible taxpayers, with the total payments equaling the annual credit amount. If the credit exceeds the taxpayer's liability, the excess will be refunded.

Establishes a working parent tax credit and monthly advance payments for qualified taxpayers in Michigan.

The bill amends Michigan's individual income tax law to create a working parent tax credit of $5,500 for each qualified dependent aged four or younger. A qualified taxpayer is defined as someone with a household income not exceeding 150% of the state median income. The Michigan Department of Treasury will establish a program to issue monthly advance payments to eligible taxpayers, with the total payments equaling the annual credit amount. If the credit exceeds the taxpayer's liability, the excess will be refunded.