SB-0096, As Passed Senate, May 3, 2007

SUBSTITUTE FOR

SENATE BILL NO. 96

     A bill to amend 1893 PA 206, entitled

"The general property tax act,"

(MCL 211.1 to 211.157) by adding section 9l.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 9l. Beginning December 31, 2007, eligible personal

property is exempt from the collection of taxes under this act. As

used in this section, "eligible personal property" means personal

property that meets both of the following conditions:

     (a) Is classified as industrial personal property under

section 34c.

     (b) Before December 31, 2007, was not subject to or exempt

from the collection of taxes under this act in any preceding tax

year.

     Enacting section 1. This amendatory act takes effect December

31, 2007.

     Enacting section 2. This amendatory act does not take effect

unless all of the following bills of the 94th Legislature are

enacted into law:

     (a) Senate Bill No. 94.

     (b) Senate Bill No. 95.