The bill amends the Income Tax Act of 1967 by adding a new section, Sec. 279, which establishes a "make it in Michigan tax credit program." This program aims to encourage recent college graduates to either remain in Michigan or relocate to the state for employment. The tax credits available under this program are designated as the "make it in Michigan tax credit" and are applicable to qualified employees who meet specific criteria, including being residents of Michigan and having obtained a higher education degree from a recognized postsecondary institution after the enactment of this amendment.

Additionally, the bill defines several key terms related to the program, including "qualified employee," "qualified student loan," "qualified taxpayer," and "resident." These definitions clarify the eligibility requirements for individuals seeking to benefit from the tax credits. The enactment of this bill is contingent upon the passage of several other specified bills within the 103rd Legislature, ensuring that the tax credit program is part of a broader legislative initiative.

Statutes affected:
House Introduced Bill: 206.1, 206.847