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MI SB0160
Bill
AI Summary
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Governor must report an estimate of tax forgone from exemptions granted under the use tax act, including revenue forgone by nontaxation of items not specifically exempted.
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Governor must report an estimate of tax forgone from the imposition of tax on the difference between agreed-upon value and full retail price of motor vehicles, recreational vehicles, or titled watercraft used as trade-in value.
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These reporting requirements are part of the annual budget message to the legislature.
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The act takes immediate effect upon approval on May 8, 2023.
Legislative Description
Taxation: other; reporting estimate of amount of use tax forgone; modify to reflect change in use tax act. Amends sec. 6 of 1979 PA 72 (MCL 21.276).
Taxation: other
Last Action
Assigned Pa 0029'23 With Immediate Effect
5/9/2023