Bill > HB4112

This bill amends the Michigan Economic Growth Authority (MEGA) Act by clarifying and updating definitions related to economic development. The bill primarily modifies the definition of "new construction" to specify that it means property not existing when an authorized business enters an agreement with the authority and does not include replacement construction. The bill also reorganizes some existing definitions, such as moving the definition of "Authority" to a different subsection, but largely maintains the existing definitions of various economic development terms like "eligible business," "qualified new job," and "high-technology activity." The bill ensures that the definition of new construction includes physical additions of equipment or furnishings, subject to specific property tax act provisions. An important tie-bar provision indicates that this bill will only take effect if House Bill 4111 is also enacted into law, suggesting these changes are part of a coordinated legislative effort to update economic development regulations in Michigan. The bill aims to provide clearer guidelines for businesses seeking economic development incentives and tax credits through the Michigan Economic Growth Authority.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-HB-4112