2015 House Bill 4556 / Public Act 122

Revise Personal Property Tax reform details

Introduced in the House

May 5, 2015

Introduced

To revise details of the personal property tax reforms approved by voters in August 2014, which lowered or eliminated this tax for industrial firms and most small businesses. This bill is part of a package comprised of House Bills 4553 to 4558, and would revise details of a “Local Community Stabilization Authority,” which is a device the 2014 reform used to shift the burden of this business tax cut from local governments to the state. The “personal property tax” is property taxes that are imposed on business tools and equipment.

Referred to the Committee on Tax Policy

May 14, 2015

Reported without amendment

Without amendment and with the recommendation that the bill pass.

May 20, 2015

Passed in the House 109 to 1 (details)

Received in the Senate

May 21, 2015

Referred to the Committee on Finance

June 17, 2015

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

June 18, 2015

Passed in the Senate 37 to 0 (details)

To revise details of the personal property tax reforms approved by voters in August 2014, which lowered or eliminated this tax for industrial firms and most small businesses. This bill is part of a package comprised of House Bills 4553 to 4558, and would revise details of a “Local Community Stabilization Authority,” which is a device the 2014 reform used to shift the burden of this business tax cut from local governments to the state. The “personal property tax” is property taxes that are imposed on business tools and equipment.

Received in the House

June 18, 2015

Passed in the House 108 to 1 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Rick Snyder

July 9, 2015