Individual income tax: credit; credit for certain qualified dependents; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 281.

HB 4430 would amend Michigan's Income Tax Act to create a new refundable income tax credit for taxpayers. This credit would be available for each "qualified dependent" claimed by the taxpayer. A qualified dependent must be between 5 and 18 years old, not enrolled in a public school, and demonstrate proficiency in reading and math for their grade level. The credit amount would be equal to the state's "target foundation allowance" for the relevant school year.