Sales tax: other; reference to the brownfield redevelopment financing act; update. Amends sec. 4d of 1933 PA 167 (MCL 205.54d). TIE BAR WITH: SB 0129'23
Impact
The passage of SB0132 would have a notable impact on state laws governing sales tax, particularly by specifying conditions under which certain items are exempt from taxation. It reflects an effort to support public and parochial schools in their operational needs, especially regarding vehicles used for driver education. By clarifying these exemptions, stakeholders believe that it will contribute positively to education funding and infrastructure, ultimately benefiting local economies through enhanced educational programs.
Summary
Senate Bill 132 (SB0132) seeks to amend section 4d of the 1933 Public Act 167, which addresses the imposition of specific taxes and their exemptions in Michigan. The bill primarily aims to clarify and modify certain tax exemptions related to the sale of tangible personal property, particularly focusing on sales involving lessors licensed under the use tax act, vehicles for driver education, and various other items. By fine-tuning these exemptions, the bill intends to streamline the tax process and ensure that specific transactions remain tax-burdened, thereby promoting educational and public utilities.
Sentiment
General sentiment around SB0132 appears to be supportive, especially among educational institutions and stakeholders involved in public health and safety initiatives. The bill's proponents argue that by maintaining these exemptions, the state is facilitating necessary investments in education and community development. However, there may be concerns regarding how these exemptions are selectively applied and their overall effect on state revenue, which some critics may raise during further discussions or legislative sessions.
Contention
While SB0132 is largely viewed favorably, potential contention may arise concerning the long-term implications for state revenue related to the exemptions it establishes. Critics may question whether maintaining these tax exemptions could lead to gaps in public funding or necessitate adjustments elsewhere in the tax code. The necessity of this legislative amendment is also tied to another bill (SB 129), which implies a strategic alignment in legislative priorities, indicating that the success of SB0132 is interconnected with other ongoing legislative efforts.
Same As
Economic development: brownfield redevelopment authority; certain housing activities; allow, and modify tax capture revenues. Amends title & secs. 2, 8, 8a, 11, 13, 13b, 13c, 14, 14a, 15 & 16 of 1996 PA 381 (MCL 125.2652 et seq.).
Use tax: other; reference to the brownfield redevelopment financing act; update. Amends sec. 4dd of 1937 PA 94 (MCL 205.94dd). TIE BAR WITH: SB 0129'23
Property tax: other; reference to the brownfield redevelopment financing act; update. Amends sec. 7gg of 1893 PA 206 (MCL 211.7gg). TIE BAR WITH: SB 0129'23
Economic development: brownfield redevelopment authority; brownfield redevelopment financing act; amend to exempt museum authorities. Amends sec. 2 of 1996 PA 381 (MCL 125.2652).
Economic development: brownfield redevelopment authority; definitions of housing property and tax capture revenues and cap on total tax capture revenues; clarify definitions and modify cap. Amends secs. 2, 14a & 16 of 1996 of 381 (MCL 125.2652 et seq.).
Economic development: brownfield redevelopment authority; brownfield redevelopment financing act; amend to exempt museum authorities. Amends sec. 2 of 1996 PA 381 (MCL 125.2652).
An Act Concerning The Remedial Action And Redevelopment Municipal Grant Program, The Targeted Brownfield Development Loan Program And The Remediation Of State-owned And Formerly State-owned Brownfields.
An Act Implementing The Recommendations Of The State Of Connecticut Brownfield Working Group And Concerning Brownfield Liability Relief, Notification Requirements For Certain Contaminated Properties And The Use Of Notice Of Activity And Use Limitations.