Economic development: plant rehabilitation; definition of speculative building; modify. Amends sec. 3 of 1974 PA 198 (MCL 207.553).
Impact
If enacted, SB 536 will have significant implications for local governance and economic initiatives. It will provide clearer guidelines for developers and local governments to stimulate industrial growth in regions that meet specified demographic criteria. By establishing eligibility for tax exemptions more systematically, the bill is designed to attract new business investments to towns and cities that have struggled economically. This could lead to revitalization efforts in communities that qualify under the population and development district standards set by the bill.
Summary
Senate Bill 536 proposes amendments to the 1974 Public Act 198, which governs the establishment of plant rehabilitation and industrial development districts in local governmental units in Michigan. The bill aims to modify regulations regarding the rehabilitation of existing industrial facilities by establishing a clearer definition of 'speculative buildings' and setting criteria for receiving industrial facilities exemption certificates. This new definition is intended to facilitate investment in areas that have faced economic challenges by encouraging the development of new manufacturing, warehousing, or distribution facilities without prior identification of specific users.
Sentiment
The sentiment around SB 536 appears largely positive among proponents who argue that the bill represents an important step toward revitalizing Michigan's industrial sector. Supporters, including local leaders and economic development organizations, view the bill as a necessary tool for combating economic decline and fostering job creation through infrastructure improvement. However, there may be concerns among opponents regarding the balance of power between local governments and state directives, particularly relating to how local needs are addressed in the context of statewide economic strategies.
Contention
Notable points of contention regarding SB 536 revolve around the balance between economic development initiatives and local governance. Critics may express concern that the clear delineation of 'speculative buildings' could potentially undermine local control over zoning and development decisions, as the criteria favor broader development strategies over localized needs. This raises questions about whether such state-level interventions will adequately consider the distinct challenges faced by smaller communities, prompting a debate on the degree of autonomy local governments should retain in directing their economic futures.
Economic development: plant rehabilitation; requirements related to an industrial facilities exemption certificate; modify. Amends sec. 7 of 1974 PA 198 (MCL 207.557). TIE BAR WITH: SB 0536'23, HB 6211'24
Economic development: plant rehabilitation; requirements related to the revocation of an industrial facilities exemption certificate; modify. Amends sec. 15 of 1974 PA 198 (MCL 207.565). TIE BAR WITH: SB 0536'23, HB 6212'24
Economic development: obsolete property and rehabilitation; definition of qualified retail food establishment; revise to reflect change in obsolete property rehabilitation act. Amends sec. 2 of 2005 PA 210 (MCL 207.842).
Economic development: other; qualified local governmental unit; modify to include county seats. Amends secs. 2 & 16 of 2000 PA 146 (MCL 125.2782 & 125.2796).
Economic development: Michigan economic growth authority; definition of new construction under the Michigan economic growth authority act; modify. Amends sec. 3 of 1995 PA 24 (MCL 207.803). TIE BAR WITH: HB 4111'25
Economic development: plant rehabilitation; requirements related to the revocation of an industrial facilities exemption certificate; modify. Amends sec. 15 of 1974 PA 198 (MCL 207.565). TIE BAR WITH: SB 0536'23, HB 6212'24
Economic development: plant rehabilitation; requirements related to an industrial facilities exemption certificate; modify. Amends sec. 7 of 1974 PA 198 (MCL 207.557). TIE BAR WITH: SB 0536'23, HB 6211'24
Taxation; Local Development Act; project plans; incentives; exemptions; manufacturing ad valorem exemption; modifying definition of manufacturing facilities; removing exceptions for failure to meet certain payroll requirements. Effective date.