MI SB0943

Allows certain property owners to defer summer property tax collection until February 15 without penalties or interest, including senior citizens (age 62+), disabled persons, and agricultural property owners meeting income requirements.

Establishes temporary deferment for summer 2020 property taxes on real property used by eligible businesses (entertainment venues, exercise facilities, food service, recreation facilities) that experienced economic hardship due to COVID-19 or government response.

Requires the Department of Treasury to develop eligibility criteria, application forms, and processes for COVID-19 related business property tax deferments, with appropriations intended to compensate local tax collecting units for waived penalties and interest.

Permits taxpayers claiming deferments under pre-COVID provisions to file intent to defer until September 15 or when taxes would become subject to interest, whichever is later; COVID-19 deferments must be filed by January 31, 2021.

Requires local tax collecting units to publish notice of deferment availability and provide assistance completing deferment forms; deferred taxes not paid by February 15 remain subject to collection but without accrued penalties or interest.