The bill amends the Use Tax Act of 1937 by updating definitions and provisions related to the taxation of tangible personal property and services in Michigan. Key insertions include clarifying the definition of "person" to encompass various entities, including counties, and specifying that "purchase" includes acquiring property for consideration through various means. Additionally, the bill introduces a new subparagraph (xvi) that allows for a credit for the agreed-upon value of a portable electronic device used as part payment for a new or used portable electronic device, provided that the value is separately stated on the invoice.

Furthermore, the bill addresses delivery and installation charges by mandating the cancellation of outstanding balances related to these charges for assessments issued before April 26, 2023. It prohibits the issuance of new assessments for such charges for any tax period before this date, ensuring that taxpayers are not penalized for past assessments. The enactment of this bill is contingent upon the passage of related legislation in the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 205.92