The bill amends the existing law regarding commercial redevelopment districts in Michigan, specifically focusing on the provisions related to commercial facilities exemption certificates. It clarifies that facilities with an active exemption certificate are exempt from ad valorem property taxes, while also detailing the duration of these certificates, which can be issued for a minimum of one year and a maximum of twelve years. The bill allows for the possibility of extending the certificate if the initial duration is less than twelve years, contingent upon a review process based on pre-established criteria. Additionally, it permits applicants to submit amended applications to correct errors in their original submissions, with the local governmental unit having the authority to approve or deny these amendments.

Furthermore, the bill introduces a provision allowing the state treasurer to exclude up to half of the mills levied under the state education tax act from the specific tax calculation for new or replacement facilities for a period not exceeding six years, aimed at promoting economic growth and reducing unemployment. It also mandates that governmental units report annually on the status of each exemption granted, including property values and job estimates. Lastly, the bill establishes a cutoff date of December 31, 2035, after which no new exemptions can be granted, although existing exemptions will remain valid until their certificates expire.

Statutes affected:
Senate Introduced Bill: 207.659
As Passed by the Senate: 207.659
As Passed by the House: 207.659
Senate Enrolled Bill: 207.659