2012 House Bill 5646 / Public Act 222

Authorize “economic development” tax breaks on “land bank” parcels

Introduced in the House

May 15, 2012

Introduced by Rep. Wayne Schmidt (R-104)

To allow a local “land bank authority” to exempt parcels from the alternate property tax levied on its property, if the tax break is for “economic development” purposes. This would make the property subject to regular property taxes, which then could be “abated” by the local government under a variety of laws authorizing selective property tax breaks for particular developers and projects.

Referred to the Committee on Commerce

May 29, 2012

Reported without amendment

Without amendment and with the recommendation that the bill pass.

June 5, 2012

Passed in the House 96 to 11 (details)

Received in the Senate

June 6, 2012

Referred to the Committee on Economic Development

June 12, 2012

Reported without amendment

With the recommendation that the bill pass.

June 14, 2012

Passed in the Senate 36 to 2 (details)

To allow a local “land bank authority” to exempt parcels from the alternate property tax levied on its property, if the tax break is for “economic development” purposes. This would make the property subject to regular property taxes, which then could be “abated” by the local government under a variety of laws authorizing selective property tax breaks for particular developers and projects.

Signed by Gov. Rick Snyder

June 28, 2012