MI HB4580

Requires written agreements with remedy provisions for all personal property tax exemptions adopted after December 31, 2016, including revocation if businesses violate agreement terms or cease to qualify.

Allows Next Michigan development corporations to adopt exemption resolutions only for property located within Next Michigan development districts and requires written agreements with eligible Next Michigan businesses.

Mandates that exemptions granted to acquiring eligible businesses must be approved by governing body resolution after December 31, 2007, rather than automatically continuing from existing eligible businesses.

Specifies that eligible manufacturing personal property exempt under this section remains exempt until the later of when it would become exempt under other manufacturing property tax exemption provisions or when the resolution exemption expires.

Requires eligible businesses receiving exemptions to file combined documents annually by February 20 indicating whether new personal property qualifies as eligible personal property.