Economic development: commercial redevelopment; HOPE zone exemption; provide for. Amends sec. 10 of 2005 PA 210 (MCL 207.850). TIE BAR WITH: HB 5852'26, HB 5856'26

Summary

The bill changes how the commercial rehabilitation tax is calculated and where the money goes, giving a tax break to qualified facilities located in HOPE zones or renaissance zones. It also requires that portions of the tax that would have gone to local school districts instead be paid to the state treasury and credited to the state school aid fund. The changes only take effect if related bills HB 5852 and HB 5856 are also enacted.

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