Use tax: definitions; definition of qualified commercial motor vehicle; modify. Amends secs. 2 & 4a of 1937 PA 94 (MCL 205.92 & 205.94a). TIE BAR WITH: HB 5434'25, HB 5435'25

HB 5433 modifies Michigan's use tax law to clarify how trade-in values for vehicles affect taxable purchases. It specifically updates Section 2(f)(xii) to set annual limits on credit for traded-in motor vehicles: $2,000 through 2018, then increasing by $500 yearly to $5,000 starting January 1, 2019. This directly affects businesses and individuals buying new or used vehicles who trade in older models, as it caps the amount subtracted from the purchase price for tax calculation purposes. The bill ensures consistent application of these limits for both new and used vehicle transactions, without changing the overall tax rate.