MI HB4969

Adds new subsections (15), (16), and (17) to modify the Neighborhood Enterprise Zone Act regarding taxation in cities that adopt a land value tax under the Land Tax Equity Act.

Prohibits the neighborhood enterprise zone tax from being levied if the combined land value tax plus other general ad valorem taxes would be less than the combined neighborhood enterprise zone tax plus general ad valorem taxes, providing tax relief in qualifying circumstances.

Requires cities using a land value tax to include both ad valorem tax rates and qualified tax rates when calculating millage levies for purposes of determining neighborhood enterprise zone tax rates.

Prevents cities from issuing new homestead facility neighborhood enterprise zone certificates after adopting a land value tax.

Bill takes effect only if Senate Bill No. ____ or House Bill No. 4966 is enacted into law, creating a tie-bar dependency with companion legislation.