Economic development: neighborhood enterprise zones; allowable percentage of neighborhood enterprise zones; modify. Amends sec. 3 of 1992 PA 147 (MCL 207.773).

This bill modifies Michigan's Neighborhood Enterprise Zone Act to update acreage limits and add new requirements for designating economic development zones in specific areas. It raises the maximum allowable zone size from 15% to 20% of a local government's total land for new or rehabilitated facilities and from 10% to 20% for homestead facilities. Additionally, the legislation introduces stricter criteria for zones in cities and townships created after 2022, requiring them to be adjacent to existing development with adequate infrastructure and containing at least five residential units per acre. The bill also mandates that residents earning more than 120% of the county median income pay full property taxes on their portion of a facility within these zones, while maintaining existing rules for public hearings and housing inspections.