Bill Text: MI SB0494 | 2019-2020 | 100th Legislature | Chaptered
Bill Title: Economic development: commercial redevelopment; commercial redevelopment exemptions; extend sunset. Amends sec. 18 of 1978 PA 255 (MCL 207.668).
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2020-10-21 - Assigned Pa 0218'20 With Immediate Effect [SB0494 Detail]
Download: Michigan-2019-SB0494-Chaptered.html
Act No. 218
Public Acts of 2020
Approved by the Governor
October 15, 2020
Filed with the Secretary of State
October 15, 2020
EFFECTIVE DATE: October 15, 2020
state of michigan
100th Legislature
Regular session of 2020
Introduced by Senators Stamas and Horn
ENROLLED SENATE BILL No. 493
AN ACT to amend 2005 PA 210, entitled “An act to provide for the establishment of commercial rehabilitation districts in certain local governmental units; to provide for the exemption from certain taxes; to levy and collect a specific tax upon the owners of certain qualified facilities; to provide for the disposition of the tax; to provide for the obtaining and transferring of an exemption certificate and to prescribe the contents of those certificates; to prescribe the powers and duties of certain local governmental officials; and to provide penalties,” by amending section 16 (MCL 207.856), as amended by 2015 PA 218.
The People of the State of Michigan enact:
Sec. 16. A new exemption shall not be granted under this
act after December 31, 2025, but an exemption then in effect shall continue
until the expiration of the exemption certificate.
This act
is ordered to take immediate effect.
Secretary of the Senate
Clerk of the House of Representatives
Approved___________________________________________
____________________________________________________
Governor
