SB 0721
Economic development: commercial redevelopment; commercial redevelopment act; modify. Amends secs. 9, 12a, 16 & 18 of 1978 PA 255 (MCL 207.659 et seq.).
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies the Commercial Redevlopment Act to adjust rules regarding commercial facilities exemption certificates. Specifically, it changes the duration of these certificates, clarifies the process for extending them, and outlines how errors in applications can be corrected. The bill also impacts the state education tax and requires local governments to report on the economic impact of redevelopment exemptions. Finally, it limits the granting of new exemptions after a certain date.
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