Corporate income tax: credits; credit for student loan payments made by employer on behalf of a qualified employee who did not receive 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. 679a. TIE BAR WITH: HB 6061’26, HB 6062’26, HB 6063’26, HB 6065’26
Key claim: HB6064 would create a Michigan corporate income tax credit for employers who make student loan payments on behalf of qualified employees who did not receive a degree from a Michigan institution.
Abstract
(HB6064 · 103rd Legislature) Corporate income tax: credits; credit for student loan payments made by employer on behalf of a qualified employee who did not receive 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. 679a. TIE BAR WITH: HB 6061’26, HB 6062’26, HB 6063’26, HB 6065’26 Latest action (2026-06-10): Bill Electronically Reproduced 06/09/2026
Why this matters
HB6064 extends Michigan’s proposed employer student-loan-repayment tax credit to cover employees who earned their degree outside Michigan, signaling a talent-attraction strategy aimed at drawing out-of-state graduates to Michigan employers. Paired with HB6063 (in-state graduates) and HB6061 (individual credit), it forms a coordinated corporate tax incentive package designed to lower the effective cost of student debt for the Michigan workforce. For employers, it could offset a growing benefit expense; for the state treasury, it represents a new corporate income tax expenditure whose scale depends on uptake.