HB4787 provides a property tax exemption for qualified replacement electric distribution infrastructure in Michigan.

HB4787 amends the Michigan Compiled Laws by adding a new section that exempts qualified replacement electric distribution infrastructure from property taxes. Owners of such infrastructure must apply annually for the exemption by March 1. The local assessing unit, in coordination with the Department of Treasury, must determine the eligibility of the property within 60 days of receiving a complete application. Owners must also submit an annual report by March 31 to the Michigan Public Service Commission or the board of directors of the cooperative electric utility.

HB4787 provides a property tax exemption for qualified replacement electric distribution infrastructure in Michigan.

HB4787 amends the Michigan Compiled Laws by adding a new section that exempts qualified replacement electric distribution infrastructure from property taxes. Owners of such infrastructure must apply annually for the exemption by March 1. The local assessing unit, in coordination with the Department of Treasury, must determine the eligibility of the property within 60 days of receiving a complete application. Owners must also submit an annual report by March 31 to the Michigan Public Service Commission or the board of directors of the cooperative electric utility.