Gov. Whitmer signs bills for school funding, tax exemptions for businesses
LANSING, Mich. (WILX) - Gov. Whitmer signed legislation Monday impacting Michigan schools, taxes for businesses, and insurance companies.
Gov. Whitmer explains “we’re helping schools more easily improve campus security, upgrade technology and vehicles, and fund maintenance projects. We are lowering property taxes for land used to produce or recycle construction or property maintenance. And we are boosting transparency by offering people greater access to insurance corporation board meetings. Let’s keep working together to lower costs, help schools better serve their students, and ensure Michiganders have greater access to information that impacts their bills.”
Governor Whitmer signed Senate Bills 63, 97, 101, and 160 and House Bill 4054.
Senate Bill 63 will amend the Revised School Code to allow a sinking fund tax authorized on or after the bill’s effective date to be used for the purchase of real estate for school buildings, for school security improvements, for the acquisition or upgrading of technology, for the acquisition of student transportation vehicles, or for the acquisition of vehicles used in the maintenance of school building.
Senate Bill 97 and House Bill 4054 will lower costs for Michiganders by amending the Use Tax Act to exempt from taxation the sale of property, used for production, manufacturing, or recycling of aggregate by the property if the aggregate would be used as an ingredient or component part for construction, maintenance, repair, or reconstruction of real property in Michigan.
State Senator Joseph Bellino (R-Monroe) said “I want to thank the governor for signing this bill to provide this relief by clarifying how state tax exemptions apply to producing aggregates, like crushed stone and gravel and recycled materials that are critical to improving our roads and reducing trash in our landfills.”
Senate Bill 160 is a bill that continues the progress made in public act 21 of 2023, exempting delivery and installation charges from taxable value in certain circumstances.
Senate Bill 101 will amend Chapter 52 of the Insurance Code to eliminate sunsets on provisions that allow stockholders or directors of certain insurance corporations to adopt bylaws permitting meetings through electronic means, improving member and shareholder access.
State Senator Sarah Anthony (D-Lansing) said “this bill will allow members of Insurance Boards to meet virtually, bringing our code into the 21st century and making firms in a critical sector of our economy more responsive to consumer needs.”
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