2015 House Bill 4558 / Public Act 124

Revise Personal Property Tax reform details

Introduced in the House

May 5, 2015

Introduced by Rep. Jim Townsend (D-26)

To revise details of the personal property tax reforms approved by voters in August 2014, which lowered or eliminated this tax for industrial firms and most small businesses. This bill is part of a package comprised of House Bills 4553 to 4558, and amends details of the law that authorizes local governments to grant “industrial facility” tax breaks to particular businesses so that it conforms with the 2014 reforms. The “personal property tax” is property taxes that are imposed on business tools and equipment.

Referred to the Committee on Tax Policy

May 14, 2015

Reported without amendment

Without amendment and with the recommendation that the bill pass.

May 20, 2015

Passed in the House 106 to 4 (details)

Received in the Senate

May 21, 2015

Referred to the Committee on Finance

June 17, 2015

Reported without amendment

With the recommendation that the bill pass.

June 18, 2015

Passed in the Senate 37 to 0 (details)

To revise details of the personal property tax reforms approved by voters in August 2014, which lowered or eliminated this tax for industrial firms and most small businesses. This bill is part of a package comprised of House Bills 4553 to 4558, and amends details of the law that authorizes local governments to grant “industrial facility” tax breaks to particular businesses so that it conforms with the 2014 reforms. The “personal property tax” is property taxes that are imposed on business tools and equipment.

Signed by Gov. Rick Snyder

July 9, 2015