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Legislation watch
2011 Senate Bill 126: Vehicle trade-in “use tax on the difference” only
Introduced by Sen. David Robertson R-Grand Blanc on February 9, 2011
To exempt from use tax the value of a trade-in on the purchase of a new motor vehicle or titled watercraft. The buyer would only pay tax on the difference between the value of the trade-in and the purchase price of the new item. Official Text and Analysis.
Referred to the Senate Finance Committee on February 9, 2011
Reported in the Senate on March 3, 2011
With the recommendation that the bill pass.
Received in the House on May 16, 2012
Referred to the House Tax Policy Committee on May 16, 2012