Michigan SB0722 amends the Commercial Rehabilitation Act to modify definitions and provisions for commercial rehabilitation exemptions.
Michigan SB0722 amends the Commercial Rehabilitation Act to redefine terms such as "qualified facility" and "commercial rehabilitation exemption certificate." It specifies that rehabilitation includes major renovations and modifications to restore or change the property to an economically efficient condition. The bill also modifies the definition of "qualified facility" to include certain hotels and motels and excludes properties intended for professional sports stadiums or casinos.
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