Introduced by Sen. Curtis Hertel, Jr. (D) on January 29, 2015
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. Official Text and Analysis.
Referred to the Senate Finance Committee on January 29, 2015