MI SB1080

Amends Michigan Renaissance Zone Act to add definitions for "Eligible Next Michigan Business," "Next Michigan Development Corporation/District," and "Next Michigan Renaissance Zone"

Authorizes Michigan Strategic Fund Board to designate Next Michigan Renaissance Zones for eligible businesses within Next Michigan development districts, with limits of 12 zones per district (or based on number of local government parties plus one per county, whichever is less)

Establishes certification process requiring Next Michigan development corporations to recommend eligible businesses for qualified status; Michigan Strategic Fund president must certify or deny applications within 30 days, with automatic approval if no decision within 30 days

Grants qualified eligible Next Michigan businesses renaissance zone status for 5-10 years with exemptions from certain taxes; allows revocation if business fails to commence operation within 2 years, ceases operations, fails to commence construction within 1 year, or fails to meet approved job/investment criteria

Restricts Next Michigan Renaissance Zone benefits to only property owned/leased by qualified eligible Next Michigan businesses and business activity conducted by such businesses; maintains existing disqualification criteria including tax delinquency and non-compliance with local codes