Introduced
by
To authorize an income tax credit equal to 50 percent of the amount of student loan debt payments made by a resident (subject to some caps) who got a degree from a college or university in Michigan an is employed in this state. The credit would not be “refundable,” but would reduce an individual’s tax liability on a dollar-for-dollar basis. Also, to give a tax credit to an employer who pays up to half of an employee’s student debt, subject to the same provisions.
Referred to the Committee on Finance
