MI SB0536

Expands definition of "speculative building" to include warehousing and distribution facilities in addition to manufacturing facilities constructed before identification of a specific user.

Clarifies that existing industrial buildings unoccupied for at least 4 years in industrial development districts created before January 1, 2011, may qualify for industrial facilities exemption certificates.

Restructures the definition of "restoration" to organize major renovation requirements into a bulleted list format with 11 specific categories including floor loads, building equipment, structural support, and machinery modifications.

Changes mandatory language to permissive language throughout the statute (replacing "shall" with "may" and "shall be" with "is") regarding exemption certificates and speculative building designations.

Modifies references to property locations from "therein" to "in the buildings and structures" for improved clarity in defining manufacturing facility equipment and fixtures.