Michigan Votes

2005 House Bill 4365 (Tax credit for teacher out-of-pocket expenses )

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  • Introduced by Rep. Paul Condino on February 22, 2005, to authorize a refundable tax credit of up to $100 for classroom supplies purchased by public school teachers and administrators out of their own pocket.
    • Referred to the House Tax Policy Committee on February 22, 2005.

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Comments

Introduced by Rep. Paul Condino on February 22, 2005. New Comment

1) Details Documented [by Mike Hignite on February 24, 2005]
So a teacher buys $100 worth of supplies:

Federal AGI decreased $100, net effect saves at fed tax rate of 25% - $ 25
MI tax rate of 3.95% $ 4
MI tax credit $100
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Net savings: $129


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