PLANT REHABILITATION S.B. 1111: FLOOR ANALYSIS
Senate Bill 1111 (as reported without amendment) Sponsor: Senator Jon Cisky
Committee: Economic Development, International Trade and Regulatory Affairs
The bill would amend the plant rehabilitation and industrial development Act to specify that the Act’s criteria for industrial facilities tax exemption certificates for applications made after December 31, 1983, would not apply to certain facilities.
The Act specifies that for applications made after December 31, 1983, the commencement of the restoration, replacement, or construction of the facility may not have occurred earlier than six months before the filing of the application for the industrial facilities exemption certificate. The bill specifies that this provision would not apply to a facility located in an existing industrial development district owned by a person who filed an application for an industrial facilities exemption certificate in June 1995 if the application were approved by the legislative body of the local governmental unit in July 1995 and the personal property portion of the application were approved by the State Tax Commission in January 1996.
MCL 207.559 Legislative Analyst: L. Burghardt
This bill would minimally reduce property tax collections for the local governments and school districts involved and specified in the bill.
Date Completed: 9-18-96 Fiscal Analyst: R. Ross
floor\sb1111
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.