The bill amends the 1974 PA 198, which regulates the establishment of plant rehabilitation and industrial development districts in Michigan, by introducing new definitions and clarifications for terms such as "commercial property," "economically efficient functional condition," "high-technology activity," and "logistical optimization center." It expands the definition of "industrial property" to encompass facilities involved in high-technology activities, logistical optimization, and motorsports entertainment complexes, while also outlining specific conditions for properties to qualify as industrial. The bill also removes outdated definitions and provisions, including those related to the "Next Michigan development corporation" and "obsolete industrial property," thereby modernizing the legal framework to better reflect current economic and technological realities.

Furthermore, the bill revises the criteria for a "major distribution and logistics facility" by eliminating previous definitions that included tourism promotion and motorsports-related exhibitions, as well as specific requirements regarding the facility's size, assessed value, location, and retail purposes. The enactment of this bill is contingent upon the passage of two other bills from the 103rd Legislature, specifically Senate Bill No. 631 and Senate Bill No. 659, meaning that the proposed changes will only take effect if those bills are also enacted into law.

Statutes affected:
Senate Introduced Bill: 207.552