MI SB1062

Amends Section 21 of the Use Tax Act to create a new subsection (7) requiring $75,000,000 annually from state share use tax collections to be deposited into the local government reimbursement fund created under the Michigan Trust Fund Act, beginning with the fiscal year ending September 30, 2024 and each fiscal year thereafter.

Renumbers existing subsection (7) (regarding aviation fuel distributions) to subsection (8) and updates corresponding references throughout the statute.

Clarifies that money distributions follow existing requirements for state school aid fund deposits, state aeronautics fund distributions, and qualified airport fund distributions before the local government reimbursement fund allocation.

Takes effect only if both Senate Bill No. 1060 and Senate Bill No. 1061 are enacted into law (tie-bar provision).