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MI SB0776
MI SB0776Use tax: collections; credit for trade-in vehicles; modify. Amends sec. 2 of 1937 PA 94 (MCL 205.92). TIE BAR WITH: SB 0777'24
summary
Introduced
03/12/2024
03/12/2024
In Committee
03/12/2024
03/12/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 1937 PA 94, entitled"Use tax act,"by amending section 2 (MCL 205.92), as amended by 2023 PA 94.
AI Summary
This bill amends the Use Tax Act to modify provisions related to the use tax collections and credit for trade-in vehicles. Specifically, it removes the previous limitations on the agreed-upon value of a motor vehicle or recreational vehicle used as part payment for a new or used vehicle purchase. It also requires the Department of Treasury to cancel certain outstanding balances and prohibits new assessments related to delivery and installation charges for the use tax. The bill is tied to the enactment of Senate Bill 777.
Committee Categories
Budget and Finance
Sponsors (16)
Jonathan Lindsey (R)*,
Thomas Albert (R),
Joe Bellino (R),
Jon Bumstead (R),
Kevin Daley (R),
John Damoose (R),
Roger Hauck (R),
Mark Huizenga (R),
Ruth Johnson (R),
Dan Lauwers (R),
Ed McBroom (R),
Aric Nesbitt (R),
Rick Outman (R),
Jim Runestad (R),
Roger Victory (R),
Michael Webber (R),
Last Action
Referred To Committee On Finance, Insurance, And Consumer Protection (on 03/12/2024)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Automotive Industry
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | http://legislature.mi.gov/doc.aspx?2024-SB-0776 | 03/12/2024 |
| BillText | http://www.legislature.mi.gov/documents/2023-2024/billintroduced/Senate/htm/2024-SIB-0776.htm | 03/12/2024 |
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