MI SB1064

Amends the Use Tax Act to clarify language regarding deposit of use tax collections into the state general fund and specifies conditions for depositing revenues into other designated funds.

Directs 35% of use tax collections on aviation fuel (at the 2% additional rate approved in 1994) to the state aeronautics fund and 65% to the qualified airport fund, beginning October 1, 2016.

Requires the state to deposit use tax revenues attributable to transformational brownfield plans (adopted under the Brownfield Redevelopment Financing Act) into the state brownfield redevelopment fund each fiscal year.

Establishes an annual reconciliation process where the Department of Treasury compares distributed amounts with actual collections and adjusts subsequent distributions accordingly; requires annual reports to qualified airport operators.

Adds definitions for aviation fuel, qualified airport, qualified airport fund, sales and use tax capture revenues, and state aeronautics fund, and is contingent upon enactment of Senate Bill No. 1061 or House Bill No. (request no. 06100'16).