Bill
HB 5512
Overview: HB 5512, AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION. Bill status: 05/02/2025 Scheduled for consideration (05/06/2025). Introduced on March 14, 2025.Purpo
Overview: HB 5512, AN ACT RELATING TO TAXATION -- PROPERTY SUBJECT TO TAXATION. Bill status: 05/02/2025 Scheduled for consideration (05/06/2025). Introduced on March 14, 2025.
Purpose and Intent: The bill aims to make changes to the taxation of certain types of property in Michigan.
Key Provisions:
- Exempts certain types of personal property from taxation, such as business inventory and freestanding renewable energy systems
- Modifies the assessment and taxation of industrial and commercial real property
- Requires the state to reimburse local governments for any revenue losses resulting from the new exemptions
Affected Parties and Impacts:
- Businesses that own personal property, such as inventory or renewable energy systems
- Owners of industrial and commercial real estate
- Local governments that rely on property tax revenue
- The state government, which would be responsible for reimbursing local governments
Procedural and Timeline Considerations:
The bill was introduced on March 14, 2025 and is currently scheduled for consideration by the legislature on 05/06/2025. Further committee review, amendments, and votes by the House and Senate would be required before the bill could be enacted into law.
Compiled from official sources — confirm details with the bill’s official record.
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