MI SB1224

Removes automatic inclusion of residential real property as assessable property in business improvement zones; residential property may only be included if specifically designated in the zone plan

Expands assessment allocation methods to include assessed value, taxable value, square footage, street frontage, and other factors identified in zone plan, rather than only benefit-based allocation

Establishes proportional voting mechanism allowing property owners' votes to be weighted based on assessment allocation method, with a 25% maximum cap per property owner to prevent single owner dominance

Adds requirement that zone plans must specify 7-10 calendar year qualifying periods and clarifies requirements for property owner petition signatures using same proportional voting method as zone plan provides

Modifies assessment collection procedures by removing requirement that property tax payments be applied first before assessment revenue goes to business improvement zone, allowing independent collection of assessments