Sec. 1202. The appropriations made and expenditures authorized under this part and part 1a and the departments, commissions, boards, offices, and programs for which appropriations are made under this part and part 1a are subject to the management and budget act, 1984 PA 431, MCL 18.1101 to 18.1594.
Sec. 1301. (1) From funds appropriated in part 1a for families with young children tax credit, the department of treasury shall implement a tax credit or tax credit grant program as described under subsections (2) through (5)
(2) For tax years that begin on and after January 1, 2024, a qualified taxpayer may claim a credit against the tax imposed under part 1 of the income tax act, 1967 PA 281, MCL 206.1 to 206.847 equal to $5,500.00 for each qualified dependent of the qualified taxpayer for which an exemption was claimed under MCL 206.30(2)(b) for that same tax year.
(3) If the credit allowed under this section exceeds the tax liability of the qualified taxpayer for the tax year, that portion of the credit that exceeds the tax liability must be refunded.
(4) Subject to subsection (5), if an amendment to the income tax act, 1967 PA 281, MCL 206.1 to 206.847 that would effectuate the tax credit described under this section has not been enacted by the effective date of this act, the department of treasury may issue a payment or other direct relief of tax liability as described under subsections (2) and (3) as a grant payment to a qualified taxpayer using the appropriation for families with young children tax credit in part 1a.
(5) If an amendment to the income tax act, 1967 PA 281, MCL 206.1 to 206.847 that would effectuate the tax credit described under this section has been enacted by the effective date of this act, the appropriation in part 1a for families with young children tax credit must not be spent, and must lapse to the state general fund.
(6) Except as otherwise provided under this subsection, terms used in this section mean the same thing as those terms defined under part 1 of the income tax act, 1967 PA 281, MCL 206.1 to 206.847. As used in this section:
(a) “Qualified dependent” means a dependent who is 3 years of age or less on the last day of the tax year for which the credit is claimed.
(b) “Qualified taxpayer” means a taxpayer who is allowed to claim a credit under MCL 206.272 for a tax year on a return filed under this part for the same tax year.”.
The amendments were not adopted, a majority of the members serving not voting therefor.
The question being on the passage of the bill,
The bill was passed, a majority of the members serving voting therefor, as follows: