MI HB5318

Expands sales tax exemption for fundraising by schools, churches, hospitals, parent cooperative preschools, and 501(c)(3)/501(c)(4) nonprofits by removing the previous $10,000 annual limit and $25,000 aggregate sales cap, replacing them with a $75,000 limit per individual fundraising event

Increases the sales tax exemption limit for veterans' organizations (501(c)(19) exempt) conducting fundraisers for active duty service members or veterans from $25,000 to $75,000 per fundraising event

Raises the cap on tax-exempt purchases of tangible personal property by qualifying nonprofit organizations for fundraising purposes from $5,000-$25,000 to $60,000, and for vehicles to $75,000

Requires the state treasurer to annually adjust all exemption dollar amounts for inflation based on the Consumer Price Index, with no negative adjustments allowed