Plain English Breakdown
The official source material does not provide specific details about the amendments or how it ties with other bills.
Changing Rules for New Buildings in Economic Development
This law changes the definition of new construction under a program that helps grow the economy in Michigan.
What This Bill Does
- Changes how 'new construction' is defined under the Michigan economic growth authority act.
Who It Names or Affects
- The Michigan Economic Growth Authority
- Businesses and developers who build new buildings in Michigan
Terms To Know
- Michigan economic growth authority
- A program that helps businesses grow by offering tax breaks or other benefits.
- New construction
- Building something new, like a house or factory.
Limits and Unknowns
- The bill does not specify the exact changes to the definition of 'new construction'.