MI HB6059

Changes language from "shall" to "must" throughout section 7u regarding poverty-based property tax exemptions for principal residences.

Expands eligibility for automatic exemption renewal without reapplication to persons receiving fixed income from public assistance (such as Social Security or Supplemental Security Income) that does not increase significantly beyond inflation rates.

Removes the specific tax year limitations (2019-2023) from the automatic renewal provision, allowing indefinite renewal for eligible persons so long as there is no change in ownership or occupancy status.

Requires persons with extended exemptions to file an affidavit rescinding the exemption within 45 days if they cease occupancy, change ownership, or experience changes in household income or assets that defeat eligibility.

Establishes repayment obligations with 1% monthly interest for taxes owed if a property is later determined ineligible for an extended exemption, with interest accruing from the date taxes were last payable.