MI HB4787

Exempts qualified replacement electric distribution infrastructure from general property tax collection for taxes levied after December 31, 2025

Requires property owners to apply for the exemption by March 1 of each year to their local assessing unit, with determinations made within 60 days

Exempt property becomes subject to a separate specific tax under the replacement electric distribution infrastructure specific tax act instead of regular property taxes

Mandates annual reports by March 31 to the Michigan Public Service Commission (or cooperative utility board) and local tax collecting unit detailing location, age, condition of replaced infrastructure, and estimated reliability and safety improvements

Takes effect only if companion bill HB 4788, which establishes the replacement electric distribution infrastructure specific tax act, is also enacted