MI HB5463

Modifies the effective date provisions for industrial facilities exemption certificates, establishing that certificates for replacement facilities, new facilities, speculative buildings, or portions of speculative buildings all take effect on December 31 following the date the certificate is issued.

Removes the previous separate effective date provision for speculative buildings that tied their certificate effective date to when the building was actually used as a manufacturing facility.

Updates language throughout the act to replace "shall" with "must" and modernize other terminology for consistency.

Contains a tie bar provision requiring HB 5464 to be enacted into law before this amendatory act takes effect.

Amends the Plant Rehabilitation and Industrial Development Districts Act (1974 PA 198, MCL 207.557) as previously modified by 2014 PA 514.