Economic development: plant rehabilitation; requirements related to the revocation of an industrial facilities exemption certificate; modify. Amends sec. 15 of 1974 PA 198 (MCL 207.565).

This bill modifies Michigan's industrial facilities exemption certificate rules to streamline the process for revoking tax exemptions when projects fail to meet specific timelines or usage requirements. It allows local governments to request certificate revocation if a facility is not completed within two years, remains unfinished for over six years, is used for purposes other than manufacturing or warehousing, or is not operated in good faith. The legislation also clarifies that revocation orders become effective on December 31 following the decision and outlines a process for reinstating certificates if a new owner applies and the facility continues to qualify under the law.