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MI HB5461
MI HB5461Economic development: plant rehabilitation; definition of speculative building; modify. Amends sec. 3 of 1974 PA 198 (MCL 207.553).
summary
Introduced
01/21/2026
01/21/2026
In Committee
01/21/2026
01/21/2026
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 1974 PA 198, entitled"An act to provide for the establishment of plant rehabilitation districts and industrial development districts in local governmental units; to provide for the exemption from certain taxes; to levy and collect a specific tax upon the owners of certain facilities; to impose and provide for the disposition of an administrative fee; to provide for the disposition of the tax; to provide for the obtaining and transferring of an exemption certificate and to prescribe the contents of those certificates; to prescribe the powers and duties of the state tax commission and certain officers of local governmental units; and to provide penalties,"by amending section 3 (MCL 207.553), as amended by 2010 PA 122.
AI Summary
This bill modifies the definition of a "speculative building" within Michigan's economic development laws, specifically Public Act 198 of 1974, which allows for tax exemptions for certain industrial facilities. The changes broaden the scope of what qualifies as a speculative building, which is a new or existing building constructed or used for manufacturing, warehousing, or distribution before a specific tenant is identified. The bill clarifies that existing buildings can qualify if they have been vacant for at least four years, are located in an industrial development district established before January 1, 2011, and are situated in a county with a specific population range and a city of a certain size. Additionally, the bill refines the definition of "restoration" for obsolete industrial property, expanding it to include major renovations and improvements to land, buildings, and other tangible property associated with the facility, aiming to encourage more comprehensive rehabilitation projects.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Bill Electronically Reproduced 01/21/2026 (on 01/22/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-5461 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/House/htm/2026-HIB-5461.htm |
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