RES. RENTAL PROPERTY AFFIDAVIT H.B. 4916 & 4917: FLOOR ANALYSIS
House Bills 4916 and 4917 (as reported without amendment)
Sponsor: Representative Jerry O. Kooiman (H.B. 4916)
Representative Steve Tobocman (H.B. 4917)
House Committee: Local Government and Urban Policy
Senate Committee: Economic Development, Small Business and Regulatory Reform
CONTENT
House Bills 4916 and 4917 would amend the Michigan Renaissance Zone Act and the General Property Tax Act, respectively, to exempt the owner of residential rental property located in a renaissance zone from having to file an affidavit that the property is in substantial compliance with all applicable State and local zoning, building, and housing laws, if the property was in compliance on December 31 of the immediately preceding tax year. The exemption would apply beginning December 31, 2004.
Currently, if the required affidavit is not filed, the property owner is not eligible for a tax exemption, deduction, or credit otherwise available for property in a renaissance zone.
MCL 125.2690 (H.B. 4916) Legislative Analyst: J.P. Finet
211.7ff (H.B. 4917)
FISCAL IMPACT
The bills would have no fiscal impact on State or local government.
Date Completed: 9-15-05 Fiscal Analyst: David Zin
floor\hb4916 Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb4916&4917/0506