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Tue Nov 20, 2012, 03:24 PM

GOP bills would give expectant parents tax credit on fetus [View all]

Source: http://www.detroitnews.com/article/20121120/POLITI

Lansing The House Tax Policy Committee heard testimony Tuesday on a bill that would grant "personhood" status to fetuses, allowing expectant parents to qualify for a tax exemption.

Parents would be able to claim a dependency exemption for a fetus that has completed at least 12 weeks of gestation as of the last day of the tax year and that has been under the care and observation of a physician since at least 12 weeks of gestation. The period of gestation would have to be determined by a physician.

The two-bill package introduced by Republican Reps. Lisa Lyons of Alto and Jud Gilbert of Algonac, would cost Michigan about $5 million annually in revenue, according to a House Fiscal Agency Analysis.

The personal exemption is $3,950 for the 2013 tax year and $4,000 for the 2014 tax year and subsequent years.

Read more: Detroit News



Looney Tunes.

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