MI HB5938

Allows persons subject to sales tax to exclude sales of qualified home appliances from gross proceeds used to compute tax liability.

Defines "qualified home appliance" as a clothes washer, dehumidifier, refrigerator, or dishwasher that meets or exceeds Energy Star power consumption guidelines developed by the U.S. Environmental Protection Agency and Department of Energy.

Requires the state treasurer to determine annually by January 1 the amount of revenue lost to the State School Aid Fund from the prior fiscal year due to this exemption.

Mandates the state treasurer immediately deposit the calculated revenue loss from the state general fund into the State School Aid Fund to offset the exemption's fiscal impact.