MI SB1069

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

Requires property owners to file an affidavit claiming the exemption with the local tax collecting unit and Michigan Department of Treasury by February 20, 2016, with no further filing required in subsequent years.

Defines "qualified new personal property" as eligible manufacturing personal property purchased after December 31, 2012 that is used more than 50% of the time in industrial processing or direct integrated support activities.

Specifies that industrial processing includes conversion or conditioning of tangible personal property for retail sale or use in manufacturing, but excludes electricity generation for sale.

Repeals Section 9m if House Bill 6026 is not approved by a majority of Michigan voters at the August 2014 election.