MI SB0792

Extends the Obsolete Property Rehabilitation Act's expiration date from December 31, 2026 to December 31, 2036, allowing new tax exemption certificates to be granted for an additional 10 years.

Increases the annual cap on state treasurer exclusions for school operating mill levies from 25 to 45 exclusions per year.

Moves the annual reporting deadline for qualified local governmental units from October 15 to June 15 each year.

Changes the certificate termination date from December 31 following the last day to December 30 of the last year of the exemption period.

Adds a new definition for "commencement of rehabilitation" based on the first building permit issuance date, excluding demolition activity.