MI SB0095

Amends the use tax definition of "purchase price" to expand trade-in credits for motor vehicles and recreational vehicles, phasing in gradually from $2,000 to $5,000 starting December 15, 2013, with annual $500 increases through 2018.

Beginning January 1, 2019, establishes a $5,000 trade-in credit limit for motor vehicles, increasing by $1,000 annually starting January 1, 2020, until the credit becomes unlimited when the amount exceeds $14,000.

Adds separate trade-in credit provisions for recreational vehicles beginning January 1, 2018, allowing credit for the agreed-upon value of a used recreational vehicle toward the purchase of a new or used recreational vehicle from a dealer.

Provides new credit for core charges attributable to recycling fees, deposits, or disposal fees for motor vehicle and recreational vehicle parts or batteries, effective January 1, 2017, if separately stated on invoices.

Effective January 18, 2018, after the Governor's veto of July 25, 2017 was overridden by a two-thirds legislative vote on January 17, 2018.