Michigan SB0357 revises the distribution of sales tax collections, including adjustments to funds for aviation, aeronautics, and transportation.

Michigan SB0357 amends the distribution of sales tax collections, specifying allocations to various funds. It mandates that 60% of the 4% sales tax on motor vehicle fuels and parts go to the comprehensive transportation fund. Additionally, it requires 35% of the 2% aviation fuel tax to be deposited in the state aeronautics fund and 65% to the qualified airport fund. The bill also details annual reconciliations and adjustments to the state school aid fund, ensuring proper distribution and accounting of tax revenues.

Michigan SB0357 revises the distribution of sales tax collections, including adjustments to funds for aviation, aeronautics, and transportation.

Michigan SB0357 amends the distribution of sales tax collections, specifying allocations to various funds. It mandates that 60% of the 4% sales tax on motor vehicle fuels and parts go to the comprehensive transportation fund. Additionally, it requires 35% of the 2% aviation fuel tax to be deposited in the state aeronautics fund and 65% to the qualified airport fund. The bill also details annual reconciliations and adjustments to the state school aid fund, ensuring proper distribution and accounting of tax revenues.