MI SB0304

Amends the Michigan tobacco tax law to modify tax rates and reporting requirements for tobacco product sales in the state.

Establishes compensation mechanisms for stamping agents implementing digital stamp technology, including reimbursement up to 5.55% of eligible equipment purchase costs and additional compensation for technology upgrades and case packing equipment.

Provides stamping agents with ongoing compensation of 0.5% of cigarette tax revenue until they recover direct technology upgrade costs, with a combined reimbursement cap of $60,000 for all stamping agents.

Requires wholesalers and unclassified acquirers to maintain and report detailed inventories of stamped and unstamped cigarettes and stamps by denomination at the beginning and end of each calendar month.

Takes effect immediately upon enactment.