SENATE BILL No. 1165

March 9, 2000, Introduced by Senator YOUNG and referred to the Committee on Finance.

A bill to amend 1937 PA 94, entitled

"Use tax act,"

by amending section 21 (MCL 205.111), as amended by 1994 PA 34.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 21. (1) Except as provided in subsection (2) THIS

2 SECTION, all money received and collected under the provisions

3 of this act shall be deposited by the department of treasury, in

4 the state treasury to the credit of the general fund, to be dis-

5 bursed only by appropriations by the legislature.

6 (2) The collections from the use tax imposed at the addi-

7 tional rate of 2% approved by the electors March 15, 1994 shall

8 be deposited in the state school aid fund established in

9 section 11 of article IX of the state constitution of 1963.

10 (3) IN EACH FISCAL YEAR, OF THE TOTAL COLLECTIONS OF THE USE

11 TAX IMPOSED AT A RATE OF 4% DIRECTLY OR INDIRECTLY ON THE LEASE

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2

1 OF MOTOR VEHICLES, NOT LESS THAN 27.9% OF 25% OF THE TOTAL

2 COLLECTIONS SHALL BE DEPOSITED IN THE COMPREHENSIVE TRANSPORTA-

3 TION FUND.

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