HB 5315 Summary

• Amends the General Sales Tax Act to change language from "shall" to "must" throughout Section 25 regarding money collection and distribution.

• Creates a new fire protection fund deposit requirement beginning fiscal year 2019, directing $10,000,000 annually from the 4% sales tax into the fire protection fund established under the Michigan Vehicle Code.

• Establishes deposits into the revenue sharing trust fund beginning October 15, 2018, requiring $79,187,866.00 deposited every other month from 4% sales tax collections, with an additional $5,000,000 for fiscal year 2019 and subsequent years (capped at $100,000,000 annually).

• Makes technical updates to existing sales tax distribution provisions for school aid, local governments, transportation, aviation fuel, and computer software sales.

• Contains a tie-bar provision making the bill effective only if House Bill 5314 is also enacted into law.