MI HB5675

Adds property tax reimbursement for municipalities experiencing revenue loss due to homestead property tax exemptions under section 7b of the general property tax act for disabled veterans, effective calendar year 2020.

Directs the local community stabilization authority to distribute 100% of municipalities' losses from these exemptions beginning in 2020, with amounts certified by the Department of Licensing and Regulatory Affairs.

Integrates the new disabled veteran exemption reimbursement into the existing distribution hierarchy under subsection (4)(a)(ix), prioritizing it alongside other critical municipal losses before distributing remaining stabilization share revenue.

Maintains existing distribution timelines and payment schedules, with disabled veteran exemption reimbursements payable by November 30 annually, consistent with other exemption-related payments.

Bill takes effect only if House Bill 5674 is enacted into law (tie bar provision).