MI SB1112

Amends the Commercial Redevelopment Act to add tax incentives for LEED-certified facilities, which are exempt from standard application requirements under the act.

Commercial facilities exemption certificates remain in force for 1-12 years as determined by local legislative bodies, with possible extensions not exceeding 12 years total after facility completion.

LEED-certified facilities are taxed based on a tiered percentage system: 80% for basic certification, 70% for silver, 60% for gold, and 50% for platinum LEED certification.

For restored facilities, the commercial facilities tax is calculated on the pre-improvement property value; for new or replacement facilities, it is calculated on 50% of current mill rates plus full state education tax.

Facilities located in renaissance zones are exempt from commercial facilities taxes, and commercial facilities taxes paid to school districts are redirected to the state school aid fund.