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MI SB1148
Bill
AI Summary
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Amends Michigan's industrial facilities exemption certificate law to add subsection (13), allowing retroactive exemption certificates for personal property approved by local units in September or October 2011 that were processed by the state tax commission in May 2012, with certificates beginning December 31, 2011 and ending December 30, 2023.
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Requires the facility to be taxed as if the exemption certificate had been granted on December 31, 2011, providing retroactive tax treatment for the specified properties.
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Effective immediately upon Governor's approval on December 27, 2012.
Legislative Description
Economic development; plant rehabilitation; exception for tax abatements for certain local governmental units; provide for. Amends sec. 9 of 1974 PA 198 (MCL 207.559).
Villages, other
Last Action
Assigned Pa 0490'12 With Immediate Effect
12/31/2012