HB 5457 Summary

• Adds new subsection (3) to section 7o of the General Property Tax Act to exempt real property that serves as the primary meeting place for a veterans organization, if owned and occupied solely for the organization's established purposes.

• Exempts personal property located within a veterans organization's primary meeting place if owned and occupied by the organization solely for its established purposes.

• Defines "veterans organization" as a nonprofit organization within Michigan that is a branch, lodge, or chapter of a national or state veterans organization existing for common purpose, brotherhood, or other member interests.

• Renumbers existing subsections (3) through (10) as subsections (4) through (11) to accommodate the new veterans organization exemption provision.