Use tax: exemptions; purchase of certain aircraft and aviation equipment; exempt. Amends sec. 4k of 1937 PA 94 (MCL 205.94k).

SB 886 amends Michigan's use tax law to provide exemptions for domestic air carriers purchasing specific aircraft and aviation parts, as well as for interstate trucking fleets. The bill exempts parts and materials used on large cargo and passenger aircraft, while also waiving taxes on parts installed on planes that are not based in Michigan and leave the state within 15 days. Additionally, the legislation removes use tax liability for commercial trucks and trailers used primarily in interstate commerce by fleet carriers. To offset the resulting loss in state revenue, the bill includes a provision for the legislature to appropriate funds to the state school aid fund.