Economic development: obsolete property and rehabilitation; HOPE zone exemption; provide for. Amends sec. 10 of 2000 PA 146 (MCL 125.2790). TIE BAR WITH: HB 5852'26, HB 5856'26

Summary

The bill adds an annual “obsolete properties tax” on owners of facilities that have received an obsolete‑property rehabilitation exemption certificate. The tax is calculated using local ad‑valorem and school operating mill rates, and the revenue is collected and distributed like other property taxes but ultimately credited to the state school aid fund. Facilities in renaissance or HOPE zones and qualified start‑up businesses may be exempt, subject to specific limits.

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