MI SB1068

Imposes a 4% specific tax on the retail selling price of spirits collected by the Michigan Liquor and Cannabis Control Commission

Directs tax proceeds from spirits sales to the general fund and state school aid fund, with separate 4% taxes on on-premises and off-premises spirit consumption directed to the convention facility development fund

Requires the commission to deposit 50% of the anticipated incremental increase in tax collections attributable to large special events into the large special events fund each fiscal year

Provides that if the spirits tax is repealed, licensees with inventory on hand can file an inventory report within 20 days and receive a credit equal to 4% of the retail selling price for future purchases

Suspends the tax imposed under this section during any period when the state convention facility development act tax is not levied