Economic development: plant rehabilitation; requirements related to an industrial facilities exemption certificate; modify. Amends sec. 7 of 1974 PA 198 (MCL 207.557).

This bill amends Michigan law to update how the state tax commission issues and manages industrial facilities exemption certificates, which provide tax relief for businesses restoring obsolete plants or building new industrial facilities. It clarifies the timeline for issuing these certificates, ensuring that applications submitted before October 31 of a given year can still receive benefits effective on December 31 of that same year, even if paperwork is finalized later. Additionally, the legislation includes specific provisions to retroactively correct past administrative errors and delays, granting tax exemptions to properties that were previously overlooked due to clerical mistakes or late submissions. Local governments and business owners affected by these historical delays will see their exemption certificates officially recognized and adjusted to cover the intended time periods.