Mich. Comp. Laws § 207.701
Short title.
This act shall be known and may be cited as the "technology park development act".
Michigan Compiled Laws — TECHNOLOGY PARK DEVELOPMENT ACT (Act 385 of 1984)
Michigan · statute · 385 of 1984, Mich. Comp. Laws · 20 active provisions
Mich. Comp. Laws § 207.702
Meanings of words and phrases.
For the purposes of this act, the words and phrases defined in sections 3 and 4 have the meanings ascribed to them in those sections.
Mich. Comp. Laws § 207.703
Definitions; D to P.
(1) "Department" means the department of treasury. (2) "Facility" means property to be located in a technology park district. (3) "Local governmental unit" means a city, village, or township. (4) "Property" means land improvements, buildings, structures, and other improvements classified by law for general ad valorem t…
Mich. Comp. Laws § 207.704
Definitions; S, T.
(1) "State equalized valuation" means the valuation determined under Act No. 44 of the Public Acts of 1911, being sections 209.1 to 209.8 of the Michigan Compiled Laws. (2) "Technology park district" or "district" means an area of a local governmental unit established as provided in section 5. (3) "Technology park faci…
Mich. Comp. Laws § 207.705
Technology park district; establishment; composition; requirements; resolution; filing written request; alteration of boundaries; public hearing; notice; district established by township; land included as part of district.
(1) A local governmental unit, by resolution of its legislative body, may establish 1 technology park district or, if subdivision (a) is not applicable, may establish more than 1 technology park district. A district shall consist of 1 or more parcels or tracts of land and, at the time the resolution is adopted, shall m…
Mich. Comp. Laws § 207.706
Application for technology park facilities exemption certificate; filing; contents; notification of assessor and legislative body; public hearing; notice.
(1) Following the establishment of a district, the owner of record of a facility or, if an existing lease provides for the direct payment of ad valorem property taxes by the lessee, the lessee of a facility shall file an application for a technology park facilities exemption certificate with the clerk of the local gove…
Mich. Comp. Laws § 207.707
Approval or disapproval of application; resolution.
Not more than 60 days after receipt of the application for a certificate by the clerk, the legislative body of the local governmental unit shall, by resolution, either approve or disapprove the application in accordance with this act. The clerk shall retain the original of the application and resolution. If the applica…
Mich. Comp. Laws § 207.707a
District or exemption certificate; approval or disapproval; effective date of exemption certificate; appeal.
(1) After June 30, 1990, the establishment of a district under section 5 and the approval or disapproval of an exemption certificate under section 7 is subject to the approval or disapproval of the department of treasury. If the department of treasury does not disapprove the establishment of a district or approval of a…
Mich. Comp. Laws § 207.708
Certificate; issuance; form; contents; effective date; filing; record.
(1) After approval of the application for a certificate by the legislative body of the local governmental unit and the department, the clerk of the local governmental unit shall issue to the applicant a certificate in a form determined by the department that shall contain all of the following: (a) A legal description o…
Mich. Comp. Laws § 207.709
Exemption from ad valorem real and personal property taxes; duration of certificate; review; extension; commencement and termination of certificate; date of issuance of certificate of occupancy; basis of review.
(1) For the period during which the certificate is in effect, a facility for which a certificate is in effect, but not the land on which the facility is located or the inventory in the facility, is exempt from ad valorem real and personal property taxes. The lessee, occupant, user, or person in possession of the facili…
Mich. Comp. Laws § 207.710
State equalized valuation; finding; statement; requirements for approval of application.
(1) If the state equalized valuation of the property proposed to be exempt pursuant to an application under consideration, considered together with the aggregate state equalized valuation of property exempt under certificates previously granted and currently in force under this act or under Act No. 198 of the Public Ac…
Mich. Comp. Laws § 207.711
Annual valuation of facility; duties of assessor.
The assessor of a local governmental unit in which is located a facility for which 1 or more certificates are in force shall annually determine the value, as of December 31, of each facility separately, of both real and personal property. Upon receipt of notice of the filing of an application for an issuance of a certi…
Mich. Comp. Laws § 207.712
Technology park facilities tax; levy; amount; collection, disbursement, and assessment of tax; payment; copy of amount of disbursement; facility located in renaissance zone; facility of qualified start-up business.
(1) Except as provided in subsections (8) and (9), there is levied upon every owner of record and every user or occupant, if known, of a facility to which a certificate is issued, a specific tax to be known as a technology park facilities tax. (2) The amount of the technology park facilities tax in each year shall be d…
Mich. Comp. Laws § 207.712a
Facility subject to technology park facilities exemption certificate; exemption for eligible manufacturing personal property; "eligible manufacturing personal property" defined.
(1) If a facility was subject to a technology park facilities exemption certificate on December 31, 2012, notwithstanding any other provision of this act to the contrary, that portion of the facility that is eligible manufacturing personal property shall remain subject to the technology park facilities tax and shall re…
Mich. Comp. Laws § 207.713
Technology park facilities tax; failure to pay; remedies; tax as lien; enforcement; disbursement of tax and interest.
(1) If a technology park facilities tax applicable to personal property is not paid within the time permitted by law for payment of taxes without penalty imposed under the general property tax act, Act No. 206 of the Public Acts of 1893, being sections 211.1 to 211.157 of the Michigan Compiled Laws, the officer to whom…
Mich. Comp. Laws § 207.714
Revocation of certificate; grounds; effect of noncompliance.
(1) The legislative body of the local governmental unit, by resolution, may revoke a certificate if it finds any of the following: (a) Completion of the facility does not occur within 2 years after the effective date of the certificate or a greater time as authorized by the legislative body of the local governmental un…
Mich. Comp. Laws § 207.715
Transfer of certificate; filing application for approval.
(1) A holder of a certificate may transfer the certificate as provided in this section. (2) If the holder of a certificate is an owner of the facility, a purchaser of that owner's interest must apply to the local governmental unit for approval of the transfer of the certificate. The application shall be filed prior to…
Mich. Comp. Laws § 207.716
Status of certificate; report.
Each local governmental unit granting a certificate shall report to the department not later than October 15 of each year regarding the status of each certificate, including the current value of the property to which the certificate pertains, the value on which the technology park facilities tax is based, and a current…
Mich. Comp. Laws § 207.717
Analyses of costs and benefits.
After this act has been in effect for 4 years, the departments of commerce and of treasury shall jointly prepare and submit to the respective committees of the senate and house of representatives having jurisdiction over matters concerning taxes, economic development, and corporations an in-depth analysis of the costs…
Mich. Comp. Laws § 207.718
Exemptions; submission of analyses of costs and benefits.
(1) A new exemption shall not be granted under this act after December 31, 1993, but an exemption then in effect shall continue until expiration of the certificate. (2) The in-depth analysis of the costs and benefits of this act in the communities where it has been utilized required under section 17 shall be submitted…