SB 0657
Economic development: other; the general property tax act; amend to reflect elimination of the Michigan strategic fund. Amends sec. 9f of 1893 PA 206 (MCL 211.9f). TIE BAR WITH: SB 0631'25, SB 0659'25
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies the Michigan General Property Tax Act to eliminate the Michigan Strategic Fund's involvement in property tax exemptions for businesses. It amends section 9f to remove the requirement for the Strategic Fund's approval when granting exemptions to eligible businesses located in eligible districts or Next Michigan development districts. The bill also establishes specific requirements for written agreements with businesses receiving exemptions, including revocation provisions if the business violates the agreement. Furthermore, it clarifies definitions related to eligible districts and businesses, and sets deadlines for the expiration of existing exemptions.
Sponsors
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Primary sponsor
Thomas A. Albert
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