2009 Senate Bill 853

Authorize employer-based college loan subsidies

Introduced in the Senate

Sept. 21, 2009

Introduced by Sen. Gilda Jacobs (D-14)

To authorize an annual refundable Michigan Business Tax credit of up to $5,000 per employee for a firm that repays an employee’s college loans. “Refundable” means the state will send the company a check for the amount that the credit exceeds its tax liability.

Referred to the Committee on Finance