2004 House Bill 5824 ↩

Senate Roll Call 502: Passed

To exempt tools and equipment owned by a business in an “innovations center” located in a certified technology park (smart zone) from the personal property tax. These "smart parks" use new tax revenues generated in a designated area to finance improvements to public or private property intended to attract certain types of businesses. The bill is targeted at the Southwest Michigan Innovation Center, which was established to provide opportunities for displaced workers from the Pfizer drug company, and and similar future facilities.