SB-1069, As Passed Senate, May 10, 2012

SENATE BILL No. 1069

(As amended May 10, 2012)

April 17, 2012, Introduced by Senators HILDENBRAND, RICHARDVILLE, JONES, KOWALL, MARLEAU, NOFS, CASWELL, JANSEN, ROBERTSON and HUNE 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 9m.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 9m. (1) <<Subject to subsection (5), Beginning>> December 31,

2015 and each year

thereafter, qualified new personal property is exempt from the

collection of taxes under this act.

(2) An owner of qualified new personal property shall claim

the exemption under this section by filing an affidavit with the

local tax collecting unit in which the qualified new personal

property is located and with the department of treasury not later

than May 1, 2016. The affidavit shall be in a form prescribed by

the department of treasury. An owner of qualified new personal

property is only required to file the affidavit claiming the

exemption under this section in 2016.

Senate Bill No. 1069 as amended May 10, 2012

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

is filed in 2016 as provided in subsection (2), the owner of that

qualified new personal property is not required to also file a

statement under section 19 for that qualified new personal property

in 2016.

(4) Beginning in 2017 and each year after 2017, an owner of

qualified new personal property is not required to file an

affidavit claiming the exemption under this section for qualified

new personal property and is not required to file a statement under

section 19 for that qualified new personal property. An owner of

qualified new personal property exempt under this section shall

provide documentation evidencing the date of purchase of that

qualified new personal property to the assessor of the local tax

collecting unit upon request.

<<(5) This section does not apply if the legislature fails

to appropriate the amount of revenue lost to each local taxing unit

as provided in the personal property tax exemption reimbursement

act.

(6)>> As used in this section:

(a) "Eligible manufacturing personal property" means that term

as defined in section 2 of the personal property tax exemption

reimbursement act.

(b) "New personal property" means property that meets all of

the following conditions:

(i) Before January 1, 2012, was not subject to or exempt from

the collection of taxes under this act, except inventory exempt

under section 9c, and was not in use or placed in service in this

state.

(ii) Before January 1, 2012, was not in use or placed in

service outside of this state.

(iii) Was initially purchased from the manufacturer, dealer,