Michigan SB0657 amends the General Property Tax Act to reflect the elimination of the Michigan Strategic Fund.
Michigan SB0657 amends Section 9f of the 1893 PA 206, the General Property Tax Act, to reflect the elimination of the Michigan Strategic Fund. The bill modifies the criteria for exempting new personal property from taxes, particularly for eligible businesses in specific districts. It outlines the conditions under which such exemptions can be granted, including the necessity for a resolution by the governing body of an eligible local assessing district or a Next Michigan development corporation.
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