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MI SB1286
Bill
AI Summary
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Exempts real property leased to and occupied by nonprofit charitable institutions from property taxes under the General Property Tax Act, effective December 31, 2012.
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Exemption applies only when the property is used exclusively as a retail store operated by the nonprofit charitable institution.
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Retail store must be engaged exclusively in collecting and selling donated items, with all proceeds used solely for purposes of the nonprofit charitable institution.
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Adds Section 7oo to 1893 PA 206 (the General Property Tax Act).
Legislative Description
Property tax; exemptions; real property leased to a charitable nonprofit organization and used as a retail store; exempt. Amends 1893 PA 206 (MCL 211.1 - 211.155) by adding sec. 7oo.
Property tax, exemptions
Last Action
Referred To Committee On Finance
9/19/2012