Economic development: commercial redevelopment; HOPE zone exemption; provide for. Amends sec. 12 of 1978 PA 255 (MCL 207.662). TIE BAR WITH: HB 5852'26, HB 5856'26

Summary

The bill changes how the commercial facilities tax is calculated for new, replacement and restored commercial properties and sends a portion of that tax to the state school aid fund. It also exempts facilities located in Renaissance or HOPE zones from most of the tax, except for special assessments. The changes affect owners of qualifying commercial facilities, local school districts and other taxing units, but do not apply to casinos.

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