PROPERTY TAX EXEMPTION - S.B. 1096: FLOOR ANALYSIS

Senate Bill 1096 (as reported without amendment)

Sponsor: Senator Bill Schuette

Committee: Economic Development, International Trade and Regulatory Affairs

CONTENT

The bill would amend the General Property Tax Act to exempt from the tax, beginning December 30, 1998, until December 30, 2018, personal property located in an area designated as a rural enterprise community under Title XIII of the Omnibus Budget Reconciliation Act of 1993, that was a component part of a natural gas distribution system.

Proposed MCL 211.9f - Legislative Analyst: N. Nagata

FISCAL IMPACT

The bill would exempt personal property located in a Federally designated rural enterprise community that is a component part of a natural gas distribution system from the property tax.

Date Completed: 5-26-98 - Fiscal Analyst: R. Ross

floor\sb1096 - Analysis available @ http://www.michiganlegislature.org

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.