MI HB4055

Adds aggregate production, manufacturing, and recycling to the definition of industrial processing activities eligible for use tax exemption, provided the aggregate is subject to use tax.

Expands the definition of "industrial processing" to include production of aggregate for construction, maintenance, repair, or reconstruction of real property in Michigan.

Requires the Department of Treasury to cancel all outstanding balances on notices of intent to assess and final assessments related to aggregate industrial processing activities issued before the bill's effective date within 90 days.

Prohibits the Department from issuing new assessments for aggregate industrial processing activities for any tax period before the effective date that remains open under the statute of limitations.

Adds definition of "aggregate" as common variety building materials including sand, gravel, crushed stone, slag, recycled concrete, recycled asphalt, and geosynthetic aggregates.