HB 5927 Summary

• Amends section 1211 of the Michigan Revised School Code to add "new construction on development property" to the list of property types exempt from school operating millage levies.

• Exempts new construction on development property from school operating mills in the same manner as principal residences, agricultural property, forest property, supportive housing property, public school academies, and industrial personal property.

• Adds definition of "development property" by reference to section 7pp of the General Property Tax Act, and defines "new construction" by reference to section 34d of the General Property Tax Act.

• Makes the exemption applicable to school districts with 1994-95 foundation allowances greater than $6,500, allowing them to reduce the number of mills from which these properties are exempted.

• Bill is contingent on House Bill 4134 being enacted into law.