Introduced
by
To exempt from sales tax the value of a trade-in when buying a motor vehicle or titled watercraft. The buyer would only pay sales tax on the difference between the value of the trade-in and the purchase price of the replacement vehicle. The tax break would be phased in gradually through 2019.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To adopt a version that phases in the tax break over a longer period.
The substitute passed by voice vote
Amendment offered
by
To move back the bill's effective date to Oct. 1, 2013.
The amendment passed by voice vote
Amendment offered
by
To move forward the effective date of the tax break for watercraft purchases.
The amendment passed by voice vote
Passed in the Senate 34 to 2 (details)
To exempt from sales tax the value of a trade-in when buying a new motor vehicle, titled watercraft or recreational vehicle. The buyer would only pay sales tax on the difference between the value of the trade-in and the purchase price of the new car. The tax break would be phased in gradually through 2021, when its value would reach $226 million.
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
To adopt a version of the bill that phases in the tax break over 24 years, but suspend this if the phase-in if the federal health care law's ("Obamacare") Medicaid expansion (authorized by <a href="http://www.michiganvotes.org/2013-HB-4714">House Bill 4714</a>) is rescinded.
The substitute passed by voice vote
Amendment offered
To begin phasing in the auto tax break in December rather than November.
The amendment passed by voice vote
Amendment offered
by
To use general tax revenue to reimburse the amount that the tax break reduces sales tax revenue otherwise earmarked to the school aid fund.
The amendment failed by voice vote
Passed in the House 99 to 9 (details)
To exempt from sales tax the value of a trade-in when buying a new motor vehicle, titled watercraft or recreational vehicle, but phase this tax break in over 24 years. The phase-in would be suspended if the federal health care law's ("Obamacare") Medicaid expansion (authorized by <a href="http://www.michiganvotes.org/2013-HB-4714">House Bill 4714</a>) is rescinded, but legal experts are divided over whether this would be allowed.<br> The buyer would only pay sales tax on the difference between the value of the trade-in and the purchase price of the new car. Initially, the tax break would only apply to $2,000 of the price difference, and this would increase $500 per year. When fully implemented the tax break's value would reach $226 million (in 2013 dollars).
Passed in the Senate 38 to 0 (details)
To concur with the House-passed version of the bill, which would phase the tax break in over 24 years, but suspend that this if the federal health care law's ("Obamacare") Medicaid expansion (authorized by House Bill 4714) is rescinded.
