MI HB6218

Eliminates the use tax exemption for periodicals effective October 1, 2010, while maintaining the exemption for newspapers classified as second-class mail matter under federal postal laws.

Removes "or periodical" language from the existing exemption for newspapers and copyrighted motion picture films, narrowing the exemption to apply only to qualifying newspapers.

Maintains exemptions for tangible personal property used in producing newspapers published more than 14 times per year, and for advertising supplements that become component parts of newspapers or periodicals.

Preserves all other use tax exemptions for property and services including agricultural products, schools, churches, vehicles, prosthetic devices, water, and industrial laundry supplies.

Creates requirement for State Treasurer to estimate annual revenue lost from aircraft exemptions and deposit that amount into the school aid fund from the general fund.