Bill Text: MI SB0458 | 2013-2014 | 97th Legislature | Introduced

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Bill Title: Property tax; exemptions; tax incentive for construction of new oil refinery in Michigan; provide for. Amends 1893 PA 206 (MCL 211.1 - 211.155) by adding sec. 7tt.

Spectrum: Partisan Bill (Republican 5-0)

Status: (Introduced - Dead) 2013-07-31 - Referred To Committee On Finance [SB0458 Detail]

Download: Michigan-2013-SB0458-Introduced.html

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SENATE BILL No. 458

 

 

July 31, 2013, Introduced by Senators JONES, SCHUITMAKER, KOWALL, HILDENBRAND and MARLEAU and referred to the Committee on Finance.

 

 

 

     A bill to amend 1893 PA 206, entitled

 

"The general property tax act,"

 

(MCL 211.1 to 211.155) by adding section 7tt.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 7tt. (1) Beginning December 31, 2013, real and personal

 

property of an eligible refinery is exempt from the collection of

 

taxes under this act for the period prescribed in subsection (2).

 

     (2) The exemption under subsection (1) shall begin on December

 

31 in the year in which construction of the eligible refinery is

 

completed and shall end on December 30 in the year 10 years after

 

the exemption began.

 

     (3) As used in this section:

 

     (a) "Eligible refinery" means a refinery that was not in

 

existence or under construction on the effective date of the

 

amendatory act that added this section.

 

     (b) "Refinery" means that term as defined in section 5 of the

 

motor fuel tax act, 2000 PA 403, MCL 207.1005.