Section 208.1515 - [Repealed 12/31/2031] Distribution to school aid fund; deposit of balance to general fund; reduction; deposit after 2010-2011 fiscal year; "United States consumer price index" defined(1) In fiscal year 2007-2008, $341,000,000.00 of the revenue collected under this act shall be distributed to the school aid fund and the balance shall be deposited into the general fund. Except as otherwise provided in subsection (2), in fiscal year 2008-2009, $729,000,000.00 of the revenue collected under this act shall be distributed to the school aid fund and the balance shall be deposited into the general fund. Except as otherwise provided in subsection (2), for each fiscal year after the 2008-2009 fiscal year through the 2010-2011 fiscal year, that amount from the immediately preceding fiscal year, before the reduction under subsection (2), as adjusted by an amount equal to the growth in the United States consumer price index in the immediately preceding fiscal year shall be distributed to the school aid fund and the balance shall be deposited into the general fund.(2) For each fiscal year after the 2007-2008 fiscal year through the 2010-2011 fiscal year, the amount distributed to the school aid fund under subsection (1) shall be reduced by the amount distributed to the school aid fund for that fiscal year from the tax collected under section 3f of the use tax act, 1937 PA 94, MCL 205.93f.(3) For each fiscal year after the 2010-2011 fiscal year, the revenue collected under this act shall be deposited into the general fund.(4) As used in this section, "United States consumer price index" means the United States consumer price index for all urban consumers as defined and reported by the United States department of labor, bureau of labor statistics.Repealed by 2019, Act 90,s 7, eff. 12/31/2031.Amended by 2012, Act 405,s 1, eff. 10/1/2011 (retroactive).Repealed by 2011, Act 39,s 7, eff. on the date that the secretary of state receives a written notice from the department of treasury that the last certificated credit or any carryforward from that certificated credit has been claimed.Amended by 2009, Act 106,s 1, eff. 10/1/2009.Amended by 2007, Act 145,s 15, eff. 1/1/2008.Added by 2007, Act 36,s 64, eff. 1/1/2008.Repealed effective 12/31/2031 -- Enacting section 1 of 2019, Act 90 provides: "The Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601, is repealed effective for tax years that begin after December 31, 2031."Contingent repeal -- See Enacting section 1 of 2011, Act 39,s 7