Sec. 8.
A facility or that portion of a facility described in section 7a, for which an industrial facilities exemption certificate is in effect, but not the land on which the facility is located or to be located or inventory of the facility, for the period on and after the effective date of the certificate and continuing so long as the industrial facilities exemption certificate is in force, is exempt from ad valorem real and personal property taxes and the lessee, occupant, user, or person in possession of that facility for the same period is exempt from ad valorem taxes imposed under Act No. 189 of the Public Acts of 1953, being sections 211.181 and 211.182 of the Michigan Compiled Laws.
History: 1974, Act 198, Imd. Eff. July 9, 1974 ;-- Am. 1993, Act 334, Eff. Apr. 1, 1994 ;-- Am. 1996, Act 513, Imd. Eff. Jan. 13, 1997 Popular Name: Act 198
Structure Michigan Compiled Laws
Act 198 of 1974 - Plant Rehabilitation and Industrial Development Districts (207.551 - 207.572)
Section 207.551 - Meanings of Certain Words and Phrases.
Section 207.552 - Definitions.
Section 207.553 - Additional Definitions.
Section 207.557a - Cost of Facility Exceeding Certain Amount of State Equalized Value.
Section 207.558 - Exemption of Facility and Certain Persons From Ad Valorem Taxes.
Section 207.560 - Annual Determination of Value of Facility.
Section 207.564a - Reduction of Mills Used to Calculate Tax Under MCL 207.564(3); Exception.
Section 207.564b - Repealed. 1994, Act 266, Imd. Eff. July 6, 1994.
Section 207.566a - Industrial Facilities Exemption Certificate; Provisions.
Section 207.569 - Form and Contents of Exemption Certificate.
Section 207.571 - Transfer and Assignment of Industrial Facilities Exemption Certificate.