Bill Text: MI SB1111 | 2009-2010 | 95th Legislature | Introduced

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Bill Title: Economic development; commercial redevelopment; tax incentives for buildings that are LEED-certified; provide for. Amends secs. 12a, 14 & 15 of 1978 PA 255 (MCL 207.662a et seq.).

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2010-09-23 - Referred To Committee Of The Whole With Substitute S-1 [SB1111 Detail]

Download: Michigan-2009-SB1111-Introduced.html

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SENATE BILL No. 1111

 

 

February 4, 2010, Introduced by Senators ALLEN, BIRKHOLZ, BARCIA, CROPSEY, PAPPAGEORGE, BASHAM, CLARKE, HUNTER and KUIPERS and referred to the Committee on Commerce and Tourism.

 

 

 

     A bill to amend 1978 PA 255, entitled

 

"Commercial redevelopment act,"

 

by amending sections 12a, 14, and 15 (MCL 207.662a, 207.664, and

 

207.665), section 12a as added by 2008 PA 227.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 12a. (1) Within 60 days after the granting of a new

 

commercial facilities exemption certificate under section 8 for a

 

new or a replacement facility, the state treasurer may, for a

 

period not to exceed 6 years, exclude up to 1/2 of the number of

 

mills levied under the state education tax act, 1993 PA 331, MCL

 

211.901 to 211.906, from the specific tax calculation on the

 

facility under section 12(3) if the state treasurer determines that

 

reducing the number of mills used to calculate the specific tax

 

under section 12(3) is necessary to reduce unemployment, promote

 

economic growth, and increase capital investment in qualified local

 

governmental units.

 

     (2) Within 60 days after the commission's receipt of a

 

commercial facilities exemption certificate application for a LEED

 

certified facility, the state treasurer may, for a period not to

 

exceed 6 years, exclude the number of mills levied under the state

 

education tax act, 1993 PA 331, MCL 211.901 to 211.906, from the

 

specific tax calculation on the facility under section 12(4)(b).

 

The state treasurer shall submit written notice of its decision on

 

the application to the applicant and the assessor of the local

 

governmental unit within which the LEED certified facility is

 

located. The state treasurer's approval of an exclusion under this

 

subsection shall only become effective if a commercial facilities

 

exemption certificate is issued under section 8.

 

     (3) (2) The state treasurer shall not grant more than 25

 

exclusions under this section subsection (1) each year.

 

     Sec. 14. (1) The Except as otherwise provided in subsection

 

(2), the legislative body of the local governmental unit may revoke

 

the exemption if it finds that the completion of the facility has

 

not occurred within 2 years after the effective date of the

 

exemption certificate or a greater time as authorized by the

 

legislative body for good cause, or that the holder of the

 

exemption has not proceeded in good faith with the replacement,

 

restoration, or construction and operation of the facility in good

 

faith in a manner consistent with the purposes of this act and in

 

absence of circumstances that are beyond the control of the holder

 

of the exemption certificate.

 

     (2) Notwithstanding subsection (1), the legislative body of

 

the local governmental unit may not revoke the exemption for a LEED

 

certified facility unless it finds that the applicant submitted

 

fraudulent evidence of LEED certification.

 

     Sec. 15. (1) A Except as otherwise provided in this section, a

 

commercial facilities exemption certificate may be transferred and

 

assigned by the holder of the certificate to a new owner or lessee

 

of the facility but only with the approval of the local

 

governmental unit after application by the new owner or lessee, and

 

notice and hearing in the manner provided in section 6 for the

 

application for a certificate.

 

     (2) A commercial facilities exemption certificate that has

 

been issued for a LEED certified facility shall remain in force for

 

all of the property as legally described in the certificate

 

notwithstanding any lease or transfer of ownership of all, any

 

portion, or multiple portions of the LEED certified facility. A

 

transfer or assignment of the certificate is not required to

 

maintain the effectiveness of the certificate in the event of any

 

such lease or transfer of ownership.