Read it all and wonder how your employer might react to this----Proposal 1's passage would trigger these 10 laws

Proposal 1's passage would trigger these 10 laws

Here are the details on the 10 pieces of legislation that would take effect if Proposal 1 is passed on May 5.

LANSING – Proposal 1 consists of only 100 words. But if approved by voters on May 5, it would trigger into law thousands of other words in 10 bills passed by the Legislature in December.

HBs 4539 and 5492: Raises the sales tax, use tax

What they do: The sale of regular and diesel fuels would be exempt from the state sales tax and use tax, which would increase to 7% from 6% for other taxed items, under these two bills.

The details:

■ HB 4539 amends the General Sales Tax Act. HB 5492 is similar, but it deals with the use tax, which applies to transactions on which sales tax is not charged, such as out-of-state, mail and Internet purchases.

■ HB 5492 would dedicate 12.3% of the first 5% of the use tax — about $151 million in 2015-16 — to the School Aid Fund. The other 2% already goes to the School Aid Fund.

Estimated costs and revenue: The House Fiscal Agency estimates that removing the sales tax from fuel sales would result in a loss of revenue of $653.6 million in the 2016 fiscal year, with most of that loss, $479.3 million, hitting the School Aid Fund.

Hiking the sales tax and use tax to 7% on sales of other items would raise an extra $1.5 billion in 2016, with about $772 million of that going to the School Aid Fund...
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