Economic development: plant rehabilitation; definition of qualified commercial activity; modify. Amends sec. 2 of 1974 PA 198 (MCL 207.552).

SB 537 amends Michigan law to update the definitions of key terms used in the state's plant rehabilitation and industrial development programs. The bill clarifies what counts as a "replacement facility," "new facility," and "industrial property," specifically expanding the list of eligible activities to include high-technology operations, strategic response centers, motorsports complexes, and various logistics and manufacturing uses. It also adjusts the criteria for certain electric generating plants and convention centers to qualify for these economic development initiatives. By refining these definitions, the legislation aims to provide clearer guidance to local governments and businesses regarding which projects can access tax exemptions and other benefits under the existing district programs.