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MI SB0573
Bill
AI Summary
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Extends industrial facilities exemption certificates for eligible manufacturing personal property indefinitely, allowing them to remain exempt from ad valorem property taxes until the property would otherwise be exempt under general property tax provisions.
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Requires holders of extended industrial facilities exemption certificates to annually file a combined document with the local township or city assessor by the deadline specified in the general property tax act to identify eligible manufacturing personal property.
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Defines "eligible manufacturing personal property" by reference to MCL 211.9m and "eligible personal property" by reference to MCL 211.1053.
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Effective date is December 31, 2017, contingent upon the enactment of Senate Bill No. 570 of the 99th Legislature.
Legislative Description
Property tax; exemptions; delivery of combined document for certain facilities subject to industrial facilities exemption certificates; modify deadline date. Amends sec. 11a of 1974 PA 198 (MCL 207.561a). TIE BAR WITH: SB 0570'17
Property tax: exemptions
Last Action
Assigned Pa 264'17 With Immediate Effect
12/28/2017