Snyder signs bill lightening rental property tax burden

Also signs medication price, local government bills

LANSING, Mich. – June 18, 2014 – (RealEstateRama) — Gov. Rick Snyder today signed bipartisan legislation lessening property tax obligations for owners of rental properties.

“This bill simplifies the tax code, lightens tax burdens for rental home owners and provides improved customer service to both owners and residents,” Snyder said.

Senate Bill 114, sponsored by state Sen. Vincent Gregory, updates the General Property Tax Act to lighten the tax burden on rental home owners. It also limits the use of occupancy rates in determining the taxable value of a property. The bill aligns the current tax code with the 2002 Michigan Supreme Court ruling in WPW vs. Troy.

The bill is now Public Act 164 of 2014.

The governor also signed four other bills:

SB 446, sponsored by state Sen. Darwin Booher, clarifies that hospitals are not required to move patients receiving care in “swing beds” into a long-term care bed should a long-term care bed become available. It is now PA 165.

SB 472, sponsored by state Sen. Howard Walker, reinstates the State Survey and Remonumentation Commission as an advisory organization for the Department of Licensing and Regulatory Affairs. The bill also increases the scope in which the Survey and Remonumentation Fund may be used. It is now PA 166.

SB 656, sponsored by state Sen. Bruce Caswell, allows pharmacies to purchase medications from a wholesaler in a more cost-effective manner. The bill requires the Department of Community Health and contracted health plan providers to use the Maximum Allowable Cost pricing reconsideration process to more accurately reflect the volume of medication price changes since March 2013. It is now PA 167.

SB 680, sponsored by state Sen. Mike Kowall, clarifies which local governing units may issue permits and enact ordinances for docks located at public road ends. It is now PA 168.

For more information on legislation, visit legislature.michigan.gov.