MI HB4899

Exempts sales of aircraft with a maximum certificated takeoff weight of at least 6,000 pounds to domestic air carriers from sales tax if used solely for transporting air cargo, passengers, or a combination thereof.

Exempts sales of parts and materials affixed to aircraft from sales tax, removing previous conditions requiring the aircraft to leave Michigan within 15 days and not be based or registered in the state.

Removes the requirement that aircraft temporarily located in Michigan for sale, evaluation, customization, improvement, maintenance, or repair must leave within 15 days and not be based or registered in the state before or after such activities.

Exempts sales of aircraft to persons for subsequent lease to domestic air carriers operating under Federal Aviation Administration part 121 certificates for regularly scheduled passenger transport from sales tax.

Requires the legislature to annually appropriate sufficient funds from the state general fund to the state school aid fund to compensate for any revenue loss resulting from these exemptions; takes effect 90 days after enactment.