Exempts personal property from taxes if no other exemption applies.

The bill amends Michigan's property tax law to exempt personal property from taxes if no other exemption applies. It mandates that owners file a statement of personal property annually by February 20, or the next business day if February 20 falls on a weekend or holiday. The bill also requires local tax collecting units to transmit summary information of exemptions to the Department of Treasury. This amendatory act takes effect 90 days after enactment, contingent on the passage of other specified bills.

Exempts personal property from taxes if no other exemption applies.

The bill amends Michigan's property tax law to exempt personal property from taxes if no other exemption applies. It mandates that owners file a statement of personal property annually by February 20, or the next business day if February 20 falls on a weekend or holiday. The bill also requires local tax collecting units to transmit summary information of exemptions to the Department of Treasury. This amendatory act takes effect 90 days after enactment, contingent on the passage of other specified bills.