MI SB0551

Exempts the sale of firearm safety devices from Michigan's sales and use tax, effective 90 days after the law's enactment through December 31, 2021.

Defines "firearm safety devices" as safes, lock boxes, trigger and barrel locks, and other items designed to enhance home firearm safety.

Requires firearm sellers to provide written notice to purchasers and post conspicuous signage at all points of sale stating that Michigan has exempted firearm safety devices from sales and use tax through December 31, 2021.

Mandates the legislature annually appropriate sufficient state general fund money to the state school aid fund to fully compensate for any revenue loss resulting from this tax exemption.