MI SB0830

Establishes the "alternative state essential services assessment act" levying a new state tax on eligible personal property beginning January 1, 2016.

Assesses eligible personal property at 50% of the state essential services assessment mills based on acquisition age: 1-5 years old, 6-10 years old, or more than 10 years old.

Requires eligible claimants to submit electronic statements and full payment to the Department of Treasury by September 15 each assessment year, with 1% weekly penalty (maximum 5%) for late payment.

Imposes consequence of exemption rescission for property taxes if claimants fail to pay the assessment by November 1, resulting in property being taxed under the general property tax act on winter bills.

Takes effect only upon voter approval of SB 822 at the August 2014 regular election, with revenue credited to the general fund to offset state use tax reductions.