January 25, 2007, Introduced by Senator CASSIS and referred to the Committee on Finance.
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) 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.