Use tax: exemptions; offset of the trade in value of personal electronics; provide for. Amends sec. 2 of 1937 PA 94 (MCL 205.92).

Senate Bill 972 amends Michigan's Use Tax Act to clarify how trade-in values for personal electronics are treated when calculating tax liability. The bill updates existing provisions that currently limit the credit for trade-ins on motor vehicles and watercraft, extending similar rules to personal electronics. Specifically, it ensures that the value of an old electronic device traded in for a new one can be subtracted from the purchase price of the new item, reducing the amount of use tax owed. This change directly affects consumers purchasing new electronics and dealers selling them in Michigan.