March 12, 2009, Introduced by Senators BROWN, JELINEK, BARCIA, GARCIA, JANSEN, HARDIMAN, CROPSEY, BIRKHOLZ and KAHN and referred to the Committee on Finance.
A bill to amend 1967 PA 281, entitled
"Income tax act of 1967,"
(MCL 206.1 to 206.532) by adding section 277.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 277. (1) For the 2009 tax year only, a taxpayer that
purchases a qualified vehicle during the 2009 tax year may claim a
credit against the tax imposed by this act equal to $1,000.00.
(2) If the amount of the credit allowed under this section
exceeds the tax liability of the taxpayer for the tax year, that
portion of the credit that exceeds the tax liability shall not be
refunded.
(3) As used in this section:
(a) "New motor vehicle" means that term as defined in section
33a of the Michigan vehicle code, 1949 PA 300, MCL 257.33a.
(b) "Qualified vehicle" means a new motor vehicle that has a
fuel economy rating of at least 20 miles per gallon as determined
by the United States environmental protection agency.