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MI HB4546
Bill
Status
3/10/2009
Primary Sponsor
Robert Jones
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AI Summary
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Prohibits local governmental units from approving industrial facilities exemption certificates beginning April 1, 2010 if the owner or lessee fails to comply with section 3 of the Michigan corporate responsibility act or fails to disclose civil or criminal offenses as required.
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Requires facility owners who fail to comply with the Michigan corporate responsibility act on or after April 1, 2010 to pay a penalty equal to the difference between the industrial facility tax and general ad valorem taxes that would have been levied for each year the certificate was in effect.
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Designates the Michigan attorney general as responsible for enforcing compliance with the corporate responsibility requirements for industrial facilities exemption certificates.
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Maintains existing requirements for industrial facilities exemption certificates including location within designated districts, employment impact, and restrictions on speculative buildings and casino properties.
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Contains multiple specific exceptions for facilities that received prior approvals under different dates and circumstances between 1992 and 2008.
Legislative Description
Economic development; other; grant or tax incentives created in the corporate responsibility act; require to comply in the industrial facilities property tax abatement provision. Amends sec. 9 of 1974 PA 198 (MCL 207.559).
Economic development, other
Last Action
Referred To Committee On Finance
4/14/2010