This bill amends the 1974 PA 198, which regulates the establishment of plant rehabilitation and industrial development districts, along with the associated tax exemptions and administrative processes. Key updates include new definitions for terms such as "commencement" of restoration, which is now defined as the date the first building or trade permit is issued, and clarifications for "development organization," "manufacturing facility," and "plant rehabilitation district." The bill also revises the definitions of "restoration" and "replacement" to provide more specific criteria. Additionally, it modifies the application and approval process for industrial facilities exemption certificates, requiring local governmental units to approve or disapprove applications within 60 days and document any disapprovals in writing.

Further changes include provisions for the approval and issuance of industrial facilities exemption certificates, allowing the commission to approve applications even if a local governmental unit's clerk fails to forward them on time, provided they are filed before the end of the following October. The bill emphasizes that granting these certificates will not hinder the operation of local governmental units or affect the financial soundness of taxing units. It also specifies conditions for speculative buildings to qualify for exemptions, including location and occupancy criteria, and clarifies that properties owned or operated by casinos are ineligible for tax abatements. Overall, the bill aims to streamline processes and enhance clarity in the management of industrial facilities and their tax exemptions.

Statutes affected:
Senate Introduced Bill: 207.553
As Passed by the Senate: 207.553