Michigan Compiled Laws — STATE ESSENTIAL SERVICES ASSESSMENT ACT (Act 92 of 2014)

Short title.

This act shall be known and may be cited as the "state essential services assessment act".

Definitions.

As used in this act: (a) Except as otherwise provided in subparagraph (ii), "acquisition cost" means that term as defined in subparagraph (i), as follows: (i) "Acquisition cost" means the fair market value of personal property at the time of acquisition by the first owner, including the cost of freight, sales tax, and…

State essential services assessment; levy; calculation.

(1) Beginning January 1, 2016, the state essential services assessment is levied on all eligible personal property as provided in this section. (2) The assessment under this section is a state specific tax on the eligible personal property owned by, leased to, or in the possession of an eligible claimant on December 31…

(1) The department shall collect and administer the assessment as provided in this section. (2) Not later than May 1 in each assessment year, the department shall make available in electronic form to each eligible claimant a statement for calculation of the assessment as provided in section 5. That statement must be de…

Retroactive property tax exemption; COVID-19 pandemic; 2021 tax year only; late-qualifying eligible manufacturing personal property tax reimbursement fund; definitions.

(1) For the 2021 tax year only, if, due to the COVID-19 pandemic, a combined document as required in section 9m(2) or 9n(2) of the general property tax act, 1893 PA 206, MCL 211.9m and 211.9n, was not properly filed to claim an exemption for personal property that would have qualified for that exemption in the 2021 tax…

Exemption from assessment; resolution; application, approval, and compliance process; approval of exemption; criteria; costs; fees.

(1) The fund board may adopt a resolution to exempt from the assessment under this act eligible personal property designated in the resolution as provided in this section and described in subsection (3)(c) that is owned by, leased to, or in the possession of an eligible claimant. In the resolution, the fund board may d…

Credit to general fund; appropriation.

(1) Proceeds of the assessment collected under section 7 shall be credited to the general fund. (2) Beginning in fiscal year 2014-2015 and each fiscal year thereafter, the legislature shall appropriate funds in an amount equal to the necessary expenses incurred by the department in implementing this act.