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2012 House Bill 5646: Authorize “economic development” tax breaks on “land bank” parcels

Public Act 222 of 2012

Introduced by Rep. Wayne Schmidt R-Traverse City on May 15, 2012
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.   Official Text and Analysis.
Referred to the House Commerce Committee on May 15, 2012
Reported in the House on May 29, 2012
Without amendment and with the recommendation that the bill pass.
Received in the Senate on June 6, 2012
Referred to the Senate Economic Development Committee on June 6, 2012
Reported in the Senate on June 12, 2012
With the recommendation that the bill pass.
Signed by Gov. Rick Snyder on June 28, 2012