HI-TECH ACTIVITIES - S.B. 1254: FLOOR ANALYSIS


Senate Bill 1254 (as reported without amendment)

Sponsor: Senator Glenn D. Steil

Committee: Economic Development, International Trade and Regulatory Affairs


CONTENT


The bill would amend the Plant Rehabilitation and Industrial Development Districts Act to include in the definition of "industrial property" land improvements, property, machinery, equipment, furniture, and fixtures or any part or accessory whose primary purpose and use were engaging in high-technology activities. The Act's present definition of "industrial property" refers to land improvements, property, machinery, equipment, furniture, and fixtures or any part or accessory whose primary purpose and use are the manufacture of goods or materials, or the processing of goods and materials by physical or chemical change.


MCL 207.552 - Legislative Analyst: N. Nagata


FISCAL IMPACT


The fiscal impact of this bill cannot be estimated because there is no way to know how many high technology business activities would apply for and receive an industrial facilities exemption, which would entitle them to a reduction in property taxes.



Date Completed: 5-18-00 - Fiscal Analyst: J. Wortley

floor\sb1254 - 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.