Introduced
by
To give college bachelor degree recipients who live and are employed in Michigan up to half the amount they owe each year on student loans, capped at an amount equal to 20 percent of the annual tuition of a four-year state university here. This would be in the form of a “refundable” tax credit, meaning the state would send the individual a check for the amount that the credit exceeds his or her annual state income tax liability. The bill does not specify a funding source for these grants.
Referred to the Committee on Tax Policy
