MI HB6025

Establishes the Metropolitan Areas Metropolitan Authority as a public body corporate governed by a 5-member council appointed by the governor, with at least 3 members from separate metropolitan areas.

Grants the authority exclusive power to levy a "metropolitan areas component tax" under the use tax act, administered by the Department of Treasury.

Requires municipalities to calculate and report losses in taxable value from exemptions of industrial and commercial personal property to the Department of Treasury beginning June 15, 2016.

Directs the authority to distribute tax revenue starting fiscal year 2015-2016 with priority to reimburse municipalities for school debt loss, school operating loss, and then distribute remaining funds to qualified municipalities experiencing over 2.3% reduction in taxable value.

Takes effect only if House Bill 6026 is approved by voters at the August 2014 election; otherwise legislature must appropriate funds for fiscal years 2013-2014 and 2014-2015.