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MI SB0131
Bill
AI Summary
- Exempts tangible personal property acquired by persons engaged in altering, repairing, or improving real estate from use tax if the property is affixed to improvements within a transformational brownfield plan
- Exempts products manufactured as described under section 3a(1)(f) or (g) from use tax when they become structural parts of real property improvements in eligible transformational brownfield plans
- References the brownfield redevelopment financing act (1996 PA 381) and defines "eligible property" and "transformational brownfield plan" according to that act's section 2
- Effective July 19, 2023, contingent on enactment of Senate Bill No. 129 of the 102nd Legislature
- Applies to eligible activities described in section 2(o)(v) of the brownfield redevelopment financing act
Legislative Description
Use tax: other; reference to the brownfield redevelopment financing act; update. Amends sec. 4dd of 1937 PA 94 (MCL 205.94dd). TIE BAR WITH: SB 0129'23
Use tax: other
Last Action
Assigned Pa 0092'23 With Immediate Effect
7/20/2023
Committee Referrals
Economic Development And Small Business4/11/2023
Tax Policy3/23/2023
Economic And Community Development3/2/2023
Full Bill Text
No bill text available