MI SB0364

Allows condominium units within qualified historic buildings to be held under common ownership, expanding eligibility for neighborhood enterprise zone certificates.

Permits neighborhood enterprise zones in qualified downtown revitalization districts to contain fewer than 10 platted parcels if they collectively contain 10 or more facilities.

Adds new requirements for local governmental units created after the amendatory act's passage: zones must meet compact development standards (5+ existing residential units per acre) and be adjacent to existing development with municipal water and sewer access.

Implements income-based tax provisions requiring full property tax payment on portions of facilities previously occupied by individuals with household income exceeding 120% of countywide area median income.

Streamlines certificate issuance timelines: 60 days for homestead and rehabilitated facilities, 30 days (or 45 days if application received after June 15) for new facilities.