Employer Student Loan Repayment Corporate Income Tax Credit

Current understanding

Proposal (HB6063, introduced) to amend 1967 PA 281 (MCL 206.1–206.847) by adding sec. 679 to create a Michigan corporate income tax credit for employers that make student loan payments on behalf of qualified employees who earned a diploma or degree from a Michigan institution. The measure is tie-barred with HB 6061 (individual side), HB 6062, HB 6064, and HB 6065 as part of a broader talent-retention package pairing workforce incentives with education-debt relief.

Evidence log

• 2026-06-09 — Individual income tax: credit; make it in Michigan tax credit program; create. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 279. TIE BAR WITH: HB 6061’26, HB 6062’26, HB 6063’26, HB 6064’26: cross-connection with make-it-in-michigan-tax-credit: HB 6065 (Make It in Michigan credit) is tie-barred with HB 6063 (employer student loan repayment corporate credit) within the same coordinated package. (novelty: 3)
• 2026-06-09 — 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: cross-connection with student-loan-repayment-tax-credit: HB6063 (employer/corporate credit) and HB6061 (individual credit) are companion bills in the same tie-barred talent-retention package, offering parallel tax relief mechanisms to workers and their employers for Michigan-degree student loan payments. (novelty: 3)

Open questions

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