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MI HB5786
Bill
Status
7/1/2010
Primary Sponsor
Brian Calley
Click for details
AI Summary
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Exempts real and personal property of charitable nonprofit housing organizations from tax collection when used to operate retail stores selling donated items for residential housing purposes.
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Applies to charitable nonprofits exempt from federal income tax under section 501(c)(3) whose primary purpose is constructing or renovating residential housing for low-income persons.
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Requires that retail store proceeds be used exclusively for the charitable nonprofit housing organization's purposes.
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Defines "low-income person" as having family income not exceeding 60% of statewide median gross income and meeting the organization's eligibility criteria.
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Effective retroactively to December 31, 2009, with immediate effect upon Governor approval on July 1, 2010.
Legislative Description
Property tax; personal property; real and personal property of a charitable nonprofit housing organization used for a retail store; exempt. Amends 1893 PA 206 (MCL 211.1 - 211.155) by adding sec. 7mm.
Property tax, personal property
Last Action
Assigned Pa 109'10 With Immediate Effect
7/1/2010