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MI SB0848
Bill
AI Summary
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Exempts tangible personal property from use tax when sold for harvesting, handling, transformation, or packaging of aquatic vegetation from Michigan waters
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Exempts repair parts for equipment used in the harvesting, handling, transformation, or packaging of aquatic vegetation from Michigan waters
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Limits the exemption to the percentage of time property is actually used for these exempt purposes, as determined by a formula approved by the Department of Treasury
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Excludes motor vehicles licensed or required to be licensed for use on public roads and highways from the exemption
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Defines "waters of the state" according to section 3302 of the Natural Resources and Environmental Protection Act
Legislative Description
Use tax; exemptions; tangible personal property sold for use in the harvesting, handling, transformation, or packaging of aquatic vegetation from the waters of this state; exempt. Amends 1937 PA 94 (MCL 205.91 - 205.111) by adding sec. 4bb.
Use tax, exemptions
Last Action
Referred To Committee On Finance
3/4/2014