Economic development: other; state essential services assessment act; amend to reflect elimination of the Michigan strategic fund. Amends secs. 3 & 9 of 2014 PA 92 (MCL 211.1053 & 211.1059). TIE BAR WITH: SB 0631'25

SB 659 updates Michigan's property tax assessment rules by removing references to the defunct Michigan Strategic Fund from the State Essential Services Assessment Act. It specifically revises definitions in Sections 3 and 9 of the law (MCL 211.1053 and 211.1059) to reflect the fund's elimination, ensuring the law aligns with current administrative structures. This affects businesses claiming specific tax exemptions, such as those under industrial facilities certificates or Renaissance Zone programs, by updating how property value ("acquisition cost") is calculated for assessment purposes. The bill makes a technical correction to existing law without creating new programs or altering tax rates.