Bill > SB0793

This bill modifies existing Michigan law concerning economic development incentives for industrial facilities, primarily by updating definitions and clarifying procedures for obtaining tax exemptions. Key changes include redefining "commencement" of restoration, replacement, or construction to exclude demolition and focus on the issuance of building permits, and introducing definitions for "development organization," "manufacturing facility," and specific state economic development entities like the Michigan Economic Development Corporation and the Michigan Strategic Fund. The bill also refines the definitions of "replacement" and "restoration" to better describe eligible industrial property improvements, and clarifies the criteria for "speculative buildings" which are new buildings constructed before a specific user is identified. Procedurally, it adjusts timelines for approving and forwarding applications for industrial facilities exemption certificates and requires written concurrence from the Michigan Strategic Fund or its delegate before a certificate is issued. Furthermore, it clarifies that new industrial facilities exemption certificates cannot be issued after December 30, 2021, for certain types of personal property. The bill also includes provisions for handling errors in applications and specifies that casinos are not eligible for these tax abatements.

Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2026-SB-0793