MI SB0614

Requires persons storing, using, or consuming aviation fuel subject to use tax to file quarterly informational reports with the Department of Treasury beginning April 1, 2016, showing taxable fuel amounts, tax liability, gallons sold or purchased by airport, and gross proceeds.

Imposes a penalty of $10 per day (maximum $500 per violation) on persons failing to file required aviation fuel reports, with waiver available if failure was due to reasonable cause.

Directs 35% of collections from the 2% additional use tax on aviation fuel to the state aeronautics fund for purposes authorized under the Aeronautics Code, effective October 1, 2016.

Directs 65% of collections from the 2% additional use tax on aviation fuel to the qualified airport fund for purposes authorized under the Aeronautics Code, effective October 1, 2016.

Requires the Department of Treasury to reconcile actual aviation fuel tax collections annually and make adjustments to distributions for the next calendar quarter beginning January 1, with annual reconciliation reports provided to qualified airport operators.