February 9, 2010, Introduced by Reps. Caul, Ball, Booher, Walsh, Hildenbrand, Liss, Schuitmaker, Meekhof, Rogers, Calley, Sheltrown, Wayne Schmidt, Moore and Terry Brown and referred to the Committee on Tax Policy.
A bill to amend 1893 PA 206, entitled
"The general property tax act,"
(MCL 211.1 to 211.155) by adding sections 7mm and 9m.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 7mm. Beginning December 31, 2009, real property owned by
a charitable nonprofit housing organization is exempt from the
taxes collected under this act. As used in this section:
(a) "Charitable nonprofit housing organization" means an
organization that is not operated for profit and that is exempt
from federal income tax under section 501(c)(3) or 501(c)(4) of the
internal revenue code, 26 USC 501, the primary purpose of which is
the construction or renovation of residential housing for
conveyance to a low-income person.
(b) "Family income" and "statewide median gross income" mean
those terms as defined in section 11 of the state housing
development authority act of 1966, 1966 PA 346, MCL 125.1411.
(c) "Low-income person" means a person with a family income of
not more than 60% of the statewide median gross income who is
eligible to participate in the charitable nonprofit housing
organization's program based on criteria established by the
charitable nonprofit housing organization.
Sec. 9m. Beginning December 31, 2009, personal property owned
by a charitable nonprofit housing organization is exempt from the
taxes collected under this act. As used in this section:
(a) "Charitable nonprofit housing organization" means an
organization that is not operated for profit and that is exempt
from federal income tax under section 501(c)(3) or 501(c)(4) of the
internal revenue code, 26 USC 501, the primary purpose of which is
the construction or renovation of residential housing for
conveyance to a low-income person.
(b) "Family income" and "statewide median gross income" mean
those terms as defined in section 11 of the state housing
development authority act of 1966, 1966 PA 346, MCL 125.1411.
(c) "Low-income person" means a person with a family income of
not more than 60% of the statewide median gross income who is
eligible to participate in the charitable nonprofit housing
organization's program based on criteria established by the
charitable nonprofit housing organization.