MI SB1082

Expands the definition of "local governmental unit" under the plant rehabilitation district law to include Next Michigan development corporations, allowing them to establish and operate plant rehabilitation and industrial development districts.

Clarifies that Next Michigan development corporations can only claim industrial property exemptions for property used in eligible Next Michigan business operations as defined in the Michigan Economic Growth Authority Act.

Requires Next Michigan development corporations to enter written agreements with eligible businesses receiving industrial facilities exemption certificates that include provisions for revoking certificates and requiring repayment of benefits if the business violates agreement terms.

Makes technical amendments to the definitions of "facility," "replacement facility," "new facility," and "industrial property" to align with Next Michigan development corporation eligibility requirements.

Takes effect only upon enactment of House Bill 5349 and was effective December 15, 2010.