Michigan Laws 207.777 – Neighborhood enterprise zone certificate; requirements for issuance
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Terms Used In Michigan Laws 207.777
- certificate: means a certificate issued pursuant to sections 4, 5, and 6. See Michigan Laws 207.772
- Commission: means the state tax commission created by 1927 PA 360, MCL 209. See Michigan Laws 207.772
- Facility: means a homestead facility, a new facility, or a rehabilitated facility. See Michigan Laws 207.772
- Homestead facility: means 1 of the following:
(i) An existing structure, purchased by or transferred to an owner after December 31, 1996, that has as its primary purpose residential housing consisting of 1 or 2 units, 1 of which is occupied by an owner as his or her principal residence and that is located within a subdivision platted pursuant to state law before January 1, 1968 other than an existing structure for which a certificate will or has been issued after December 31, 2006 in a city with a population of 750,000 or more, is located within a subdivision platted pursuant to state law before January 1, 1968. See Michigan Laws 207.772Local governmental unit: means a city, village, or township. See Michigan Laws 207.772 New facility: means 1 or both of the following:
(i) A new structure or a portion of a new structure that has as its primary purpose residential housing consisting of 1 or 2 units, 1 of which is or will be occupied by an owner as his or her principal residence. See Michigan Laws 207.772Rehabilitated facility: means , except as otherwise provided in section 2a, an existing structure or a portion of an existing structure with a current true cash value of $120,000. See Michigan Laws 207.772
(1) The commission shall not issue a neighborhood enterprise zone certificate for a new facility unless the new facility meets the requirements of the definition in section 2(g).
(2) The commission shall not issue a neighborhood enterprise zone certificate for a rehabilitated facility unless the rehabilitated facility meets the requirements of the definition in section 2(m).
(3) The assessor of the local governmental unit shall not issue a neighborhood enterprise zone certificate for a homestead facility unless the homestead facility meets the requirements of the definition in section 2(e).