Michigan Laws 207.615 – Transfer and assignment of certificate; approval; notice; hearing
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Terms Used In Michigan Laws 207.615
- Commercial housing facilities exemption certificate: means a certificate issued pursuant to sections 3, 4, and 5. See Michigan Laws 207.601
- Commission: means the state tax commission created by Act No. See Michigan Laws 207.601
- Local governmental unit: means a city, village, or township. See Michigan Laws 207.601
- New facility: means a new structure which will have as its primary purpose multifamily housing consisting of 5 or more units and will be constructed in a downtown development district established pursuant to Act No. See Michigan Laws 207.601
A commercial housing facilities exemption certificate may be transferred and assigned by its holder to a new owner or lessee of the new facility but only with the approval of the local governmental unit and the commission. The new owner or lessee shall apply for the transfer, and notice and hearing shall be provided, in the same manner as prescribed in section 3 for the application for a certificate.