May 19, 2005, Introduced by Reps. Hansen, Baxter, LaJoy, Pavlov, Huizenga, Nitz, Newell, Stewart, Stahl, Gosselin, Elsenheimer, Mortimer, Booher, Emmons, Nofs and Taub and referred to the Committee on Commerce.
A bill to amend 1996 PA 376, entitled
"Michigan renaissance zone act,"
by amending section 9 (MCL 125.2689).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 9. (1) Except as otherwise provided in section 10, an
individual who is a resident of a renaissance zone or a business
that is located and conducts business activity within a renaissance
zone shall receive the exemption, deduction, or credit as provided
in the following for the period provided under section 6(2)(b):
(a)
Section 39b of the single business tax act, Act No. 228
of
the Public Acts of 1975, being section 208.39b of the Michigan
Compiled
Laws 1975 PA 228, MCL
208.39b.
(b)
Section 31 of the income tax act of 1967, Act No. 281 of
the
Public Acts of 1967, being section 206.31 of the Michigan
Compiled
Laws 1967 PA 281, MCL 206.31.
(c)
Section 35 of chapter 2 of the city income tax act, Act
No.
284 of the Public Acts of 1964, being section 141.635 of the
Michigan
Compiled Laws 1964 PA 284,
MCL 141.635.
(d)
Section 5 of the city utility users tax act, Act No. 100
of
the Public Acts of 1990, being section 141.1155 of the Michigan
Compiled
Laws 1990 PA 100, MCL
141.1155.
(2) Except as otherwise provided in section 10, property
located in a renaissance zone is exempt from the collection of
taxes under all of the following:
(a)
Section 7ff of the general property tax act, Act No. 206
of
the Public Acts of 1893, being section 211.7ff of the Michigan
Compiled
Laws 1893 PA 206, MCL
211.7ff.
(b)
Section 11 of Act No. 198 of the Public Acts of 1974,
being
section 207.561 of the Michigan Compiled Laws 1974 PA 198,
MCL 207.561.
(c)
Section 12 of the commercial redevelopment act, Act No.
255
of the Public Acts of 1978, being section 207.662 of the
Michigan
Compiled Laws 1978 PA 255,
MCL 207.662.
(d)
Section 21c of the enterprise zone act,
Act No. 224 of
the
Public Acts of 1985, being section 125.2121c of the Michigan
Compiled
Laws 1985 PA 224, MCL
125.2121c.
(e)
Section 1 of Act No. 189 of the Public Acts of 1953,
being
section 211.181 of the Michigan Compiled Laws 1953 PA 189,
MCL 211.181.
(f)
Section 12 of the technology park development act, Act
No.
385 of the Public Acts of 1984, being section 207.712 of the
Michigan
Compiled Laws 1984 PA 385,
MCL 207.712.
(g)
Section 51105 of part 511 (commercial forests) of
the
natural
resources and environmental protection act, Act No. 451 of
the
Public Acts of 1994, being section 324.51105 of the Michigan
Compiled
Laws 1994 PA 451, MCL
324.51105.
(h)
Section 9 of the neighborhood enterprise zone act, Act
No.
147 of the Public Acts of 1992, being section 207.779 of the
Michigan
Compiled Laws 1992 PA 147,
MCL 207.779.
(3) During
Except for a qualified tool
and die business
whose recovery zone status is revoked in the fifth year or tenth
year as provided in section 8d(1)(b), during the last 3 years that
the taxpayer is eligible for an exemption, deduction, or credit
described in subsections (1) and (2), the exemption, deduction, or
credit shall be reduced by the following percentages:
(a) For the tax year that is 2 years before the final year of
designation as a renaissance zone, the percentage shall be 25%.
(b) For the tax year immediately preceding the final year of
designation as a renaissance zone, the percentage shall be 50%.
(c) For the tax year that is the final year of designation as
a renaissance zone, the percentage shall be 75%.