207.906 Issuance of attainable housing exemption certificate; form; contents; effective date; maintenance of record and copies.

331 words·~2 min read·/mi/chapter-207/207-906

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Sec. 6.

(1)Not more than 120 days after receipt of a copy of the application and resolution adopted under section 5, the commission shall approve or disapprove the resolution.

(2)Following approval of the application by the legislative body of the qualified local governmental unit and the commission, the commission shall issue to the applicant a certificate in the form the commission determines, which must contain all of the following:

(a)The address of the real property on which the qualified facility is located.

(b)A statement that unless revoked as provided in this act the certificate must remain in force for the period stated in the certificate.

(c)A statement of the taxable value of the qualified facility for the tax year immediately preceding the effective date of the certificate after deducting the taxable value of the land.

(d)A statement of the period of time authorized by the legislative body of the qualified local governmental unit within which the rehabilitation or construction must be completed.

(e)If the period of time authorized by the legislative body of the qualified local governmental unit pursuant to subdivision

(b)is less than 12 years, the certificate must contain the factors, criteria, and objectives, as determined by the resolution of the qualified local governmental unit, necessary for extending the period of time, if any.

(3)The effective date of the certificate is the December 31 immediately following the date of issuance of the certificate.

(4)The commission shall file with the clerk of the qualified local governmental unit a copy of the certificate, and the commission shall maintain a record of all certificates filed. The commission shall also send, by certified mail, a copy of the certificate to the applicant and the assessor of the local tax collecting unit in which the qualified facility is located.

History: 2022, Act 236 , Imd. Eff. Dec. 13, 2022