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QUALIFIED HEAVY EQUIPMENT RENTAL PERSONAL PROPERTY SPECIFIC TAX ACT
Act 35 of 2022
AN ACT to levy and collect a specific tax upon the rental of certain heavy equipment rental personal property; to provide for the disposition of that specific tax; to provide for the powers and duties of certain state and local governmental officers and entities; and to provide penalties.
History: 2022, Act 35, Eff. Mar. 23, 2022
The People of the State of Michigan enact:
|Section 211.1121||Section||Short title.
|Section 211.1125||Section||Qualified heavy equipment rental personal property specific tax; levy; amount; collection and remission by qualified renter; exception; rate adjustment.
|Section 211.1127||Section||Collection and administration of the specific tax; submission of completed statement and payment; notice; penalties; rescission; books and records; appeal process.
|Section 211.1129||Section||Qualified heavy equipment rental personal property exemption reimbursement fund; investment; distribution; "eligible local tax collecting unit" defined.
|Section 211.1131||Section||Tax increment finance authority capture; prohibition; sharing of distribution.