MI HB5527

Extends industrial facilities exemption certificates for facilities that received exemptions on or after December 31, 2012, allowing eligible manufacturing personal property to remain exempt from ad valorem property taxes while remaining subject to industrial facilities tax.

Requires exemption certificate holders to file a combined document with the local assessor by February 20 of each year identifying the portion of the facility consisting of eligible manufacturing personal property.

Maintains exemption status until the eligible manufacturing personal property would otherwise be exempt under existing personal property tax exemption provisions in the General Property Tax Act.

Defines "eligible manufacturing personal property" and "eligible personal property" by reference to the General Property Tax Act and the State Essential Services Assessment Act.

Takes effect immediately upon approval by the Governor on May 5, 2016.