Individual income tax: credit; working parent credit; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 272a.

This bill creates a new tax credit for working parents in Michigan starting in the 2024 tax year. It allows eligible taxpayers with at least $10,000 in earned income to receive up to $5,000 for each child aged three or younger and up to $2,500 for each child between three and six years old. The credit is limited to three children per family and will be refunded to parents if the amount exceeds their total tax liability.