2015 House Bill 4118

Authorize student loan tax credits

Introduced in the House

Jan. 29, 2015

Introduced by Rep. Andy Schor (D-68)

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 and 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 Tax Policy