MI SB1066

Amends Section 21 of the Use Tax Act to add subsection (6) directing 50% of anticipated incremental tax collections from large special events to the Large Special Events Fund each fiscal year, as determined by the state treasurer.

Clarifies that collections from the 2% use tax rate approved by voters on March 15, 1994 continue to be deposited in the state school aid fund.

Requires the Department of Treasury to reconcile distributed amounts against actual collections on an annual basis and make adjustments to the next calendar quarter beginning January 1.

Establishes specific allocations of aviation fuel tax collections: 35% to the state aeronautics fund and 65% to the qualified airport fund, both for purposes authorized under the aeronautics code.

Bill takes effect only upon enactment of Senate Bill No. 1065 of the 99th Legislature.