September 4, 2007, Introduced by Senators BASHAM, ANDERSON, SCHAUER, GLEASON and JACOBS and referred to the Committee on Finance.
A bill to amend 1893 PA 206, entitled
"The general property tax act,"
(MCL 211.1 to 211.155) by adding sections 7mm and 9l.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 7mm. (1) Beginning December 31, 2007, real property used
exclusively as an eligible electric generating facility is exempt
from the collection of taxes under this act.
(2) As used in this section, "eligible electric generating
facility" means a coal-fired electric generating facility that
captures or sequesters all carbon dioxide emissions.
Sec. 9l. (1) Beginning December 31, 2007, all personal property
used at an eligible electric generating facility and any carbon
dioxide capture machinery or equipment are exempt from the
collection of taxes under this act.
(2) As used in this section:
(a) "Carbon dioxide capture machinery or equipment" means a
carbon dioxide injection well, machinery or equipment used to
capture carbon dioxide from industrial and other anthropogenic
sources or to convert carbon dioxide into 1 or more products, or
machinery or equipment used to recover carbon dioxide from
sequestration.
(b) "Eligible electric generating facility" means a coal-fired
electric generating facility that captures or sequesters all carbon
dioxide emissions.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No. 707
of the 94th Legislature is enacted into law.