February 4, 2010, Introduced by Senators GILBERT, JANSEN, BARCIA, ALLEN, GLEASON, OLSHOVE, NOFS, KAHN, RICHARDVILLE, BIRKHOLZ, HARDIMAN and CROPSEY and referred to the Committee on Finance.
A bill to amend 1893 PA 206, entitled
"The general property tax act,"
(MCL 211.1 to 211.155) by adding section 7mm.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 7mm. (1) Beginning December 31, 2009, real and personal
property owned by a charitable nonprofit housing organization and
operated by that charitable nonprofit housing organization as a
resale shop for the benefit of that charitable nonprofit housing
organization is exempt from the collection of taxes under this act.
(2) As used in this section:
(a) "Charitable nonprofit housing organization" means an
organization not operated for profit and 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.