Introduced
by
To authorize seven-year property tax exemptions for property owned by a nonprofit organization whose purpose is real estate development, if the local government agrees, and if the organization is approved by the political appointees on the board of the state agency responsible for granting and overseeing selective tax breaks and subsidies to particular corporations or developers (the “Michigan Economic Development Corporation,” an arm of the “Michigan Strategic Fund”).
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
Consideration postponed
Passed in the Senate 36 to 0 (details)
To authorize property tax exemptions of five to seven years for property owned by a nonprofit organization whose purpose is real estate development, if the local government agrees, and if the organization is approved by the political appointees on the board of the state agency responsible for granting and overseeing selective tax breaks and subsidies to particular corporations or developers (the “Michigan Economic Development Corporation,” an arm of the “Michigan Strategic Fund”).
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-5) be adopted and that the bill then pass.
Passed in the House 70 to 39 (details)
To authorize property tax exemptions of five to seven years for property owned by a nonprofit organization whose purpose is real estate development, if the local government agrees, and if the organization is approved by the political appointees on the board of the state agency responsible for granting and overseeing selective tax breaks and subsidies to particular corporations or developers (the “Michigan Economic Development Corporation,” an arm of the “Michigan Strategic Fund”).
Passed in the Senate 38 to 0 (details)
To concur with the House-passed version of the bill.
