MI HB4112

Modifies the definition of "new construction" under the Michigan Economic Growth Authority Act by updating a cross-reference from section 27(2)(a) to (q) to section 27(2)(a) to (r) of the general property tax act

Reorganizes the definitions section by moving the definition of "authority" (Michigan Economic Growth Authority) from subsection (d) to subsection (c), with corresponding re-lettering of "authorized business" to subsection (d)

New construction for purposes of new capital investment includes physical addition of equipment or furnishings subject to the updated general property tax act provisions

This bill is a tie bar with HB 4111 and will not take effect unless HB 4111 of the 103rd Legislature is enacted into law