Introduced by Sen. Kenneth Horn R-Frankenmuth on May 6, 2021
To create another type of selective property tax break that local elected officials can give to certain developers, this one granting a 50% exemption on structures for up to 12 years, for residential developments that rent at least 30% of their units at discounted rates to households with income not above 120% of the area median. Official Text and Analysis.
Referred to the Senate Economic and Small Business Development Committee on May 6, 2021
Reported in the Senate on June 15, 2021
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.