Economic development: neighborhood enterprise zones; neighborhood enterprise zone eligibility; expand. Amends sec. 4 of 1992 PA 147 (MCL 207.774).

This bill amends the Michigan Neighborhood Enterprise Zone Act to allow property owners and developers to apply for zone certificates for facilities where building permits were issued in the past but the applications were not filed at the time. The legislation specifically creates exceptions for various historical construction and rehabilitation projects, including those with permits issued between 1992 and 2022, enabling them to seek benefits under the program even though they missed the standard filing deadline. To qualify, applicants must still provide details about the property, construction plans, and a timeline for completion, while homestead owners must commit to a minimum investment of $500 within the first three years. The measure directly affects individuals and businesses in designated neighborhood enterprise zones who have ongoing or past development projects that were previously ineligible for the program due to timing issues.