Property tax; exemptions; property leased for a certain amount by

certain businesses; exempt.

PROPERTY TAX: Exemptions

A bill to amend 1893 PA 206, entitled

"The general property tax act,"

(MCL 211.1 to 211.157) by adding section 7gg.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 SEC. 7GG. (1) PROPERTY THAT IS LEASED TO AN ELIGIBLE ORGAN-

2 IZATION FOR A TOTAL ANNUAL CONSIDERATION OF $1.00 IS EXEMPT FROM

3 THE COLLECTION OF TAXES UNDER THIS ACT.

4 (2) A PERSON MAY CLAIM AN EXEMPTION UNDER SUBSECTION (1) BY

5 FILING AN AFFIDAVIT AND ALL SUPPORTING DOCUMENTATION WITH THE

6 ASSESSOR OF THE LOCAL TAX COLLECTING UNIT IN WHICH THE PROPERTY

7 IS LOCATED. THE AFFIDAVIT SHALL BE IN A FORM PRESCRIBED BY THE

8 DEPARTMENT OF TREASURY.

9 (3) AS USED IN THIS SECTION, "ELIGIBLE ORGANIZATION" MEANS

10 AN ORGANIZATION THAT QUALIFIES FOR EXEMPTION FROM FEDERAL INCOME

11 TAXATION UNDER SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE.

01626'01 FDD