Corporate income tax: credits; credit for student loan payments made by employer on behalf of a qualified employee who received a diploma or degree from an institution located in this state; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 679. TIE BAR WITH: HB 6061'26, HB 6062'26, HB 6064'26, HB 6065'26

This bill would allow Michigan taxpayers to claim a tax credit for 50% of the money they pay towards an employee's student loans. To qualify, the employee must have graduated from a Michigan high school or college and remained or returned to Michigan for work with that employer. The credit for each employee is capped at 20% of the average yearly tuition at a Michigan public university, and any credit exceeding the taxpayer's tax liability would be refunded.

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