Individual income tax: credit; credit for student loan payments made by certain taxpayers who relocated to this state for employment; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 279b. TIE BAR WITH: HB 6061’26, HB 6063’26, HB 6064’26, HB 6065’26
Key claim: HB 6062 would create a Michigan individual income tax credit for student loan payments made by certain taxpayers who relocated to the state for employment.
Abstract
(HB6062 · 103rd Legislature) Individual income tax: credit; credit for student loan payments made by certain taxpayers who relocated to this state for employment; provide for. Amends 1967 PA 281 (MCL 206.1 - 206.847) by adding sec. 279b. TIE BAR WITH: HB 6061’26, HB 6063’26, HB 6064’26, HB 6065’26 Latest action (2026-06-10): Bill Electronically Reproduced 06/09/2026
Why this matters
HB 6062 would use Michigan’s income tax code to subsidize student loan payments for workers who relocate to the state for employment, functioning as a targeted talent-attraction incentive rather than a general tax cut. Paired with HB 6061 (which targets workers who stayed in or returned to Michigan), the package signals a legislative attempt to compete with other states’ workforce recruitment tools by lowering the effective cost of relocating skilled labor. Fiscal impact and eligibility parameters (loan amount cap, residency duration, employment type) will determine how meaningful the credit is to workers and how much revenue the state forgoes.