This bill amends the 1974 PA 198, which governs the establishment of plant rehabilitation and industrial development districts in Michigan. The amendments include the introduction of new definitions and clarifications regarding terms such as "restoration," "speculative building," and "manufacturing facility." Notably, the definition of "restoration" has been expanded to include specific types of renovations and improvements, such as enhancing structural support and improving building equipment. Additionally, the criteria for what constitutes a "speculative building" have been refined, including stipulations about ownership and intended use prior to identifying a specific user.

The bill also modifies existing language to clarify the requirements for industrial facilities exemption certificates, including changes to the conditions under which existing buildings may qualify for such certificates. For instance, the bill specifies that a building must be unoccupied for at least four years before the certificate is issued and outlines the population criteria for the counties where these buildings can be located. Overall, the amendments aim to enhance the clarity and effectiveness of the law in promoting industrial development and rehabilitation in Michigan.

Statutes affected:
House Introduced Bill: 207.553