Taxation: other; HOPE zone exemption; provide for. Amends sec. 1 of 1953 PA 189 (MCL 211.181). TIE BAR WITH: HB 5852'26, HB 5856'26

This bill amends Michigan's property tax laws to ensure that businesses leasing tax-exempt real property are taxed as if they owned the property. It directly affects private individuals, associations, and corporations using such property for profit by removing their ability to claim tax exemptions on the lease value. The legislation maintains existing exceptions for various uses, including public airports, county fairs, and specific economic zones like Renaissance and HOPE zones, while explicitly excluding casinos from these protections. Because the bill is tied to two other related bills, it will only take effect if all three are passed into law together.