Bill Text: MI SB0102 | 2023-2024 | 102nd Legislature | Introduced
Bill Title: Taxation: other; reporting estimate of amount of use tax forgone; modify to reflect change in use tax act. Amends sec. 6 of 1979 PA 72 (MCL 21.276). TIE BAR WITH: HB 4040'23
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2023-03-01 - Referred To Committee On Finance, Insurance, And Consumer Protection [SB0102 Detail]
Download: Michigan-2023-SB0102-Introduced.html
SENATE BILL NO. 102
A bill to amend 1979 PA 72, entitled
"An act to require the governor to report certain tax information with the annual budget message to the legislature,"
by amending section 6 (MCL 21.276), as amended by 1983 PA 7.
the people of the state of michigan enact:
Sec. 6. (1) The governor shall report an estimate, by item, of the amount of tax foregone forgone from exemptions granted pursuant to Act No. 94 of the Public Acts of 1937, as amended, being sections 205.91 to 205.111 of the Michigan Compiled Laws. under the use tax act, 1937 PA 94, MCL 205.91 to 205.111. The estimate shall must include revenue foregone forgone by nontaxation of items not specifically exempted.
(2) The governor shall report an estimate of the amount of tax foregone forgone pursuant to section 2(f) of Act No. 94 of the Public Acts of 1937, being section 205.92 of the Michigan Compiled Laws, 2(1)(f) of the use tax act, 1937 PA 94, MCL 205.92, from the imposition of the tax upon on the difference between the agreed upon agreed-upon value of a motor vehicle, trailer coach, recreational vehicle, or titled watercraft used as part payment of the purchase price and the full retail price of the motor vehicle, trailer coach, recreational vehicle, or titled watercraft being purchased rather than upon on the full retail price of the motor vehicle, trailer coach, or titled watercraft.
Enacting section 1. This amendatory act does not take effect unless House Bill No. 4040 of the 102nd Legislature is enacted into law.
