2023 Michigan Compiled Laws › Chapter 211 - Taxation of Real and Personal Property › Act 512 of 2014 - Eligible Hydroponics and Eligible Aquaculture Production Facilities Specific Tax Act (211.981 - 211.986) › Section 211.985 - Eligible Hydroponics and Eligible Aquaculture Production Facilities Specific Tax; Amount; Determination; Payment; Disbursement; Copy Sent by Collecting Officer to Commission.

211.985 Eligible hydroponics and eligible aquaculture production facilities specific tax; amount; determination; payment; disbursement; copy sent by collecting officer to commission.
Sec. 5.
(1) There is levied upon the owner of every eligible hydroponics production facility or eligible aquaculture production facility a specific tax to be known as the eligible hydroponics and eligible aquaculture production facilities specific tax.
(2) The amount of the eligible hydroponics and eligible aquaculture production facilities specific tax in each year shall be determined as follows:
(a) Multiply the number of mills that would be assessed in the local tax collecting unit if the property were subject to the collection of taxes under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155, and if the property was exempt as provided under section 7cc of the general property tax act, 1893 PA 206, MCL 211.7cc, by the eligible hydroponics production facility's or eligible aquaculture production facility's taxable value.
(b) Multiply the result of the calculation in subdivision (a) by .25.
(c) If a new millage is approved in the local tax collecting unit in which an eligible hydroponics production facility or an eligible aquaculture production facility is located after the effective date of this act, multiply the number of mills that were approved that would be assessed if the eligible hydroponics production facility or eligible aquaculture production facility were subject to the collection of taxes under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155, by the eligible hydroponics production facility's or eligible aquaculture production facility's taxable value. Repeat this calculation for each individual new millage approved in the local tax collecting unit after the effective date of this act. As used in this subdivision, "new millage" does not include the renewal of some or all of a millage in existence on the effective date of this act.
(d) Add the result of the calculation under subdivision (b) and the result of all calculations under subdivision (c).
(3) The eligible hydroponics and eligible aquaculture production facilities property specific tax is an annual tax, payable at the same times, in the same installments, and to the same collecting officer or officers as taxes collected under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155.
(4) The collecting officer or officers shall disburse the eligible hydroponics and eligible aquaculture production facilities property specific tax to and among this state and cities, townships, villages, school districts, counties, or other taxing units, at the same times and in the same proportions as required by law for the disbursement of taxes collected under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155.
(5) The collecting officer or officers shall send a copy of the amount of disbursement made to each taxing unit under this section to the commission on a form provided by the commission.
History:
2014, Act 512, Imd. Eff. Jan. 14, 2015