The bill amends the 1974 PA 198, which governs the establishment of plant rehabilitation and industrial development districts in Michigan. It outlines the process for the issuance of industrial facilities exemption certificates by the commission, including the requirement for notification to the state treasurer and obtaining written concurrence from the Department of Licensing and Regulatory Affairs. The bill specifies that the effective date of the exemption certificate for various types of facilities, including speculative buildings, is the December 31 following the issuance of the certificate. Additionally, it allows for retroactive issuance of certificates under certain conditions and clarifies the process for amending applications in case of errors.

Key changes in the bill include the replacement of "shall" with "must" in several instances to emphasize the mandatory nature of certain actions, such as notifying the state treasurer and obtaining concurrence from the regulatory department. The bill also introduces provisions for notifying local representatives and publishing information about the approval or disapproval of applications on the commission's website. Overall, the amendments aim to streamline the process for obtaining industrial facilities exemption certificates and ensure better communication with local governmental units and stakeholders.

Statutes affected:
House Introduced Bill: 207.557