Economic development: obsolete property and rehabilitation; obsolete property rehabilitation act; modify. Amends secs. 2, 6, 7, 14, 16 & 17 of 2000 PA 146 (MCL 125.2782 et seq.).

This bill amends the Obsolete Property Rehabilitation Act to update definitions and procedures for tax exemptions. It clarifies what "commencement of rehabilitation" means and revises the definitions of "commercial housing property" and "commercial property." The bill also details the information that must be included in an obsolete property rehabilitation exemption certificate and outlines how the State Tax Commission processes and communicates approvals or denials of these certificates.

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