SB565 — Property tax: exemptions; fund from which municipalities are reimbursed for certain revenue lost due to the small business property tax exemption; modify to require that unused funds lapse to the general fund. Amends sec. 3a of 2000 PA 489 (MCL 12.253a).

SB565 — Property tax: exemptions; fund from which municipalities are reimbursed for certain revenue lost due to the small business property tax exemption; modify to require that unused funds lapse to the general fund. Amends sec. 3a of 2000 PA 489 (MCL 12.253a). · Informed CitizenryThis bill amends the Michigan trust fund act to modify the local government reimbursement fund. It specifies that any money remaining in the fund at the close of the fiscal year lapses to the gener…Open in Informed Citizenry