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2014 Senate Bill 847: Increase EITC (as passed; originally something different)

Public Act 469 of 2014

Introduced by Sen. Dave Hildenbrand (R) on March 4, 2014
To increase the property tax credit a homeowner or renter can claim against the state income tax, by increasing the income threshold in the formula used to calculate this “homestead” or principle residence exemption.   Official Text and Analysis.
Referred to the Senate Finance Committee on March 4, 2014
Passed 37 to 1 in the Senate on June 11, 2014.
    See Who Voted "Yes" and Who Voted "No".
To increase the property tax credit a homeowner or renter can claim against the state income tax, by increasing the income threshold in the formula used to calculate this “homestead” or principle residence exemption. The vote is part of a deal made with Democrats by Gov. Rick Snyder and Senate Majority Leader Randy Richardville to get their votes on a $1.2 billion fuel tax increase, and will only go into effect if that tax hike is enacted.
Received in the House on December 16, 2014
Referred to the House Tax Policy Committee on December 16, 2014
Substitute offered in the House on December 19, 2014
To adopt a version of the bill that requires voters to approve an increase to the state sales tax in a May 5, 2015 election.
The substitute passed by voice vote in the House on December 19, 2014
Passed 78 to 32 in the House on December 19, 2014.
    See Who Voted "Yes" and Who Voted "No".
To increase the state earned income tax credit from an amount equal to 6 percent of the federal EITC to 20 percent, which will distribute around $260 million annually to low income wage earners. This program is styled as a “refundable” tax credit, meaning that a check is sent to households who owe no income tax. The measure will not become law unless voters approve an increase to the state sales tax in a May 5, 2015 election, and reportedly it was passed to gain Democratic votes for the two-thirds majority required to place that on the ballot. The bill's original purpose was also adopted, which is to raise the income threshold in the formula used to calculate a “homestead” or principle residence exemption taxpayers can claim on their state income tax.
Received in the Senate on December 19, 2014
Passed 23 to 15 in the Senate on December 19, 2014.
    See Who Voted "Yes" and Who Voted "No".
To increase the state Earned Income Tax Credit, which makes payments to low income wage earners. The measure will not become law unless voters approve an increase to the state sales tax in a May 5, 2015 election; reportedly the bill was passed to gain Democratic votes for the two-thirds majority required to place that on the ballot. This was added to the original provisions of the bill, which increase the property tax credit a homeowner or renter can claim against the state income tax, by lowering the income threshold in the formula used to calculate this “homestead” or principle residence exemption .
Signed by Gov. Rick Snyder on January 10, 2015

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