HB-4543 Summary

• Residents, businesses, and property owners in renaissance zones are ineligible for tax exemptions, deductions, or credits if delinquent on December 31 of the prior year under Michigan business tax, income tax, property tax, or other specified state and local taxes.

• Local governmental units may establish written policies defining "substantially delinquent" status for city income taxes and property taxes, with ineligibility applying to those meeting that definition as of December 31 of the prior tax year.

• Residential rental property owners must file an affidavit certifying substantial compliance with zoning, building, and housing laws by December 31 of the preceding tax year, unless the local unit determines compliance without requiring an affidavit (beginning December 31, 2004).

• Individuals may claim exemptions up to $10,000,000 in aggregate state and local tax revenue forgone; casinos and casino-affiliated properties are categorically ineligible for all exemptions, deductions, or credits.

• Beginning April 1, 2010, businesses failing to comply with the Michigan Corporate Responsibility Act disclosure requirements are ineligible for renaissance zone tax benefits, with the Attorney General responsible for enforcement.