SB-1070, As Passed Senate, December 14, 2012

HOUSE SUBSTITUTE FOR

SENATE BILL NO. 1070

(As amended December 13, 2012)

     A bill to amend 1893 PA 206, entitled

"The general property tax act,"

(MCL 211.1 to 211.155) by adding section 9o.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 9o. (1) Beginning December 31, 2013, eligible personal

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

     (2) An owner of eligible personal property shall claim the

exemption under this section by annually filing an affidavit with

the local tax collecting unit in which the eligible personal

property is located and with the department of treasury not later

than [February 20] in each tax year. The affidavit shall be in a form

prescribed by the department of treasury. The affidavit shall

require the owner to attest that the combined taxable value of all

industrial personal property and commercial personal property owned

Senate Bill No. 1070 (H-1) as amended December 13, 2012

by or under the control of that owner is less than $40,000.00 in

that local tax collecting unit.

     (3) If an affidavit claiming the exemption under this section

is filed as provided in subsection (2), the owner of that eligible

personal property is not required to also file a statement under

section 19 in that tax year.

     (4) As used in this section:

     (a) "Commercial personal property" means personal property

classified as commercial personal property under section 34c.

     (b) "Eligible personal property" means property that meets all

of the following conditions:

     (i) Is industrial personal property or commercial personal

property.

     (ii) The combined taxable value of all industrial personal

property and commercial personal property owned by or under the

control of the owner claiming an exemption under this section is

less than $40,000.00 in that local tax collecting unit.

     (c) "Industrial personal property" means personal property

classified as industrial personal property under section 34c.

[Enacting section 1. Section 9o of the general property tax act, 1893 PA 206, MCL 211.9o, as added by this amendatory act, is repealed if House Bill No. 6026 of the 96th Legislature is not approved by a majority of the qualified electors of this state voting on the question at an election to be held on the August regular election date in 2014.]