Section 207.701 – Short Title.
207.701 Short title. Sec. 1. This act shall be known and may be cited as the “technology park development act”. History: 1984, Act 385, Imd. Eff. Dec. 28, 1984
Section 207.702 – Meanings of Words and Phrases.
207.702 Meanings of words and phrases. Sec. 2. 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. History: 1984, Act 385, Imd. Eff. Dec. 28, 1984
Section 207.703 – Definitions; D to P.
207.703 Definitions; D to P. Sec. 3. (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 tax purposes […]
Section 207.704 – Definitions; S, T.
207.704 Definitions; S, T. Sec. 4. (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) […]
Section 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.
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. Sec. 5. (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 […]
Section 207.706 – Application for Technology Park Facilities Exemption Certificate; Filing; Contents; Notification of Assessor and Legislative Body; Public Hearing; Notice.
207.706 Application for technology park facilities exemption certificate; filing; contents; notification of assessor and legislative body; public hearing; notice. Sec. 6. (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 […]
Section 207.707 – Approval or Disapproval of Application; Resolution.
207.707 Approval or disapproval of application; resolution. Sec. 7. 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 […]
Section 207.707a – District or Exemption Certificate; Approval or Disapproval; Effective Date of Exemption Certificate; Appeal.
207.707a District or exemption certificate; approval or disapproval; effective date of exemption certificate; appeal. Sec. 7a. (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 […]
Section 207.708 – Certificate; Issuance; Form; Contents; Effective Date; Filing; Record.
207.708 Certificate; issuance; form; contents; effective date; filing; record. Sec. 8. (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 […]
Section 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.
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. Sec. 9. (1) For the period during which the certificate is in effect, a facility for which a certificate is in effect, but not the […]
Section 207.710 – State Equalized Valuation; Finding; Statement; Requirements for Approval of Application.
207.710 State equalized valuation; finding; statement; requirements for approval of application. Sec. 10. (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 […]
Section 207.711 – Annual Valuation of Facility; Duties of Assessor.
207.711 Annual valuation of facility; duties of assessor. Sec. 11. 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 […]
Section 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.
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. Sec. 12. (1) Except as provided in subsections (8) and (9), there is levied upon every owner of record and every user or occupant, if known, […]
Section 207.712a – Facility Subject to Technology Park Facilities Exemption Certificate; Exemption for Eligible Manufacturing Personal Property; “Eligible Manufacturing Personal Property” Defined.
207.712a Facility subject to technology park facilities exemption certificate; exemption for eligible manufacturing personal property; “eligible manufacturing personal property” defined. Sec. 12a. (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 […]
Section 207.713 – Technology Park Facilities Tax; Failure to Pay; Remedies; Tax as Lien; Enforcement; Disbursement of Tax and Interest.
207.713 Technology park facilities tax; failure to pay; remedies; tax as lien; enforcement; disbursement of tax and interest. Sec. 13. (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. […]
Section 207.714 – Revocation of Certificate; Grounds; Effect of Noncompliance.
207.714 Revocation of certificate; grounds; effect of noncompliance. Sec. 14. (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 […]
Section 207.715 – Transfer of Certificate; Filing Application for Approval.
207.715 Transfer of certificate; filing application for approval. Sec. 15. (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 […]
Section 207.716 – Status of Certificate; Report.
207.716 Status of certificate; report. Sec. 16. 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 […]
Section 207.717 – Analyses of Costs and Benefits.
207.717 Analyses of costs and benefits. Sec. 17. 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 […]
Section 207.718 – Exemptions; Submission of Analyses of Costs and Benefits.
207.718 Exemptions; submission of analyses of costs and benefits. Sec. 18. (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 […]