Economic development: neighborhood enterprise zones; allowable percentage of neighborhood enterprise zones; modify. Amends sec. 3 of 1992 PA 147 (MCL 207.773).

Summary

This bill amends Michigan's 1992 Neighborhood Enterprise Zone Act to change the allowable percentage of properties that can qualify for tax exemptions within a designated zone. It directly impacts municipalities, developers, and residents by altering the cap on how many properties can receive these tax breaks. Adjusting this percentage could encourage more housing development and rehabilitation in distressed neighborhoods.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share