MI SB0552

Exempts firearm safety devices from Michigan's sales and use tax for the period from 90 days after the bill's effective date 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 sellers to provide written notice to purchasers at point of sale and post conspicuous notices stating Michigan has exempted firearm safety devices from sales and use tax through December 31, 2021.

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