HB 5735 Summary

• Amends section 9 of the Plant Rehabilitation and Industrial Development Districts Act (1974 PA 198) regarding industrial facilities exemption certificates.

• Requires local governmental units to find that granting exemption certificates will not substantially impede operations or impair financial soundness of affected taxing units, with a 5% state equalized valuation threshold triggering additional state review.

• Establishes application requirements for non-speculative buildings including commencement of work within 6-12 months before filing and location within established plant rehabilitation or industrial development districts.

• Adds multiple date-specific exemptions for particular applicants and facilities filed between 1992 and 2011 that would otherwise not meet standard timing requirements.

• Prohibits casino properties from receiving tax abatements or reductions under the act.