This bill amends the General Property Tax Act of 1893, specifically section 7ff, to clarify the tax exemptions for real and personal property located in renaissance zones. It maintains the existing exemptions for properties in these zones while specifying that properties associated with casinos are not exempt from taxes. Additionally, it introduces new language regarding the compliance requirements for residential rental properties to qualify for tax exemptions, including the necessity for property owners to file affidavits or for local governmental units to determine compliance with zoning and housing laws.

The bill also includes provisions for personal property located in renaissance zones, detailing the conditions under which such property can be exempt from taxes based on its duration of presence in the zone. Notably, it establishes specific exemptions for eligible data center properties approved by the Michigan Strategic Fund, which are not subject to certain tax collections. The bill includes several insertions and deletions to update legal terminology and references, ensuring clarity and consistency with current laws.

Statutes affected:
House Introduced Bill: 211.7