February 5, 2004, Introduced by Reps. McConico, Rivet, Accavitti, Farrah, Tobocman, Bisbee, Huizenga, DeRoche, Hunter and Elkins and referred to the Committee on Commerce.
A bill to amend 1992 PA 147, entitled
"Neighborhood enterprise zone act,"
by amending sections 5 and 12 (MCL 207.775 and 207.782), section
12 as amended by 2001 PA 217.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 5. Not more than 60 days after receipt by its clerk of
2 an application under section 4, the governing body of the local
3 governmental unit by resolution shall approve the application for
4 a neighborhood enterprise zone certificate and approve the
5 duration of the neighborhood enterprise zone certificate as
6 provided in this act. The clerk shall forward the application to
7 the commission.
8 Sec. 12. (1) Unless earlier revoked as provided in section
9 11, a neighborhood enterprise zone certificate shall remain in
10 effect until for
up to 12 years from the effective date of the
1 certificate as determined by the local governmental unit. If the
2 new facility or rehabilitated facility is sold or transferred to
3 another owner who otherwise complies with this act and, for a new
4 facility, uses the new facility as a principal residence, the
5 certificate shall remain in effect.
6 (2) If a rehabilitated facility was sold before December 29,
7 1994 and a certificate was in effect for that facility at the
8 time of the sale, and the new owner of the rehabilitated facility
9 otherwise complies with this act, the certificate shall be
10 reinstated and remain in effect for the remainder of the original
11 12-year period unless earlier revoked under section 11.