Michigan SB0358 revises the distribution of use tax revenue, including transfers to the state school aid fund and adjustments based on the Consumer.

Michigan SB0358 amends the distribution of use tax revenue collected by the state. Starting from the fiscal year ending September 30, 2026, the state treasurer must transfer $10,000,000.00 annually from the general fund to the state school aid fund. For the fiscal year ending September 30, 2027, and each fiscal year thereafter, the state treasurer must adjust this amount based on the annual percentage change in the Consumer Price Index. If the change is negative, the adjustment is zero.

Michigan SB0358 revises the distribution of use tax revenue, including transfers to the state school aid fund and adjustments based on the Consumer.

Michigan SB0358 amends the distribution of use tax revenue collected by the state. Starting from the fiscal year ending September 30, 2026, the state treasurer must transfer $10,000,000.00 annually from the general fund to the state school aid fund. For the fiscal year ending September 30, 2027, and each fiscal year thereafter, the state treasurer must adjust this amount based on the annual percentage change in the Consumer Price Index. If the change is negative, the adjustment is zero.