MI HB6055

Exempts qualified previously existing personal property from property tax collection beginning December 31, 2015 and each year thereafter.

Requires owners to claim the exemption by filing an affidavit with the local tax collecting unit and Michigan Department of Treasury by May 1, with the affidavit only required to be filed in the first year the exemption is claimed.

Defines "qualified previously existing personal property" as eligible manufacturing personal property that meets specific age and location requirements over the preceding 10 years.

Allows personal property that was located outside Michigan during the preceding 10 years to qualify if it would have been subject to or exempt from Michigan's property tax had it been located in the state.

Exempts owners of qualified personal property from filing annual statements under section 19 of the property tax act once the initial affidavit is filed.