Michigan SB0792 amends the Obsolete Property Rehabilitation Act to modify provisions related to obsolete property rehabilitation exemptions.

Michigan SB0792 amends the Obsolete Property Rehabilitation Act, modifying sections related to obsolete property rehabilitation exemptions. The bill updates the definition of "commercial property" to include land improvements classified as real property for tax purposes, excluding land, public utility property, and certain other uses. It also revises the definition of "rehabilitation" to include improvements such as improved floor loads, correction of deficient or unsafe conditions, and other physical changes.

Michigan SB0792 amends the Obsolete Property Rehabilitation Act to modify provisions related to obsolete property rehabilitation exemptions.

Michigan SB0792 amends the Obsolete Property Rehabilitation Act, modifying sections related to obsolete property rehabilitation exemptions. The bill updates the definition of "commercial property" to include land improvements classified as real property for tax purposes, excluding land, public utility property, and certain other uses. It also revises the definition of "rehabilitation" to include improvements such as improved floor loads, correction of deficient or unsafe conditions, and other physical changes.