LOCAL USE TAX CALCULATION DATES                                                              S.B. 380:

                                                                                                    SUMMARY OF BILL

                                                                                      REPORTED FROM COMMITTEE

Senate Bill 380 (as reported without amendment)

Sponsor:  Senator Dave Hildenbrand

Committee:  Finance

CONTENT

The bill would amend the Local Community Stabilization Authority Act to delay several deadlines for the Department of Treasury to make calculations and adjustments of certain tax exemption losses, and a deadline for the Local Community Stabilization Authority to distribute local community stabilization share revenue.

In the provisions regarding calculations, the bill would delay the deadlines from August 15, 2016, or November 7, 2016, to November 7, 2017. In a provision concerning payment of local community stabilization share revenue for certain millages, the bill would change a November 20, 2016, date to November 20, 2017.

MCL 123.1354 et al.                                                 Legislative Analyst:  Drew Krogulecki

FISCAL IMPACT

The bill would have no fiscal impact on State or local government, but would change the timing of the State's distribution to municipalities of certain payments related to personal property tax reform.

Date Completed:  5-18-17                                                         Fiscal Analyst:  David Zin

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.