Inside208

Treasury Publishes Overview of Recent PPT Law Changes

Posted on July 16, 2018 by Dene Westbrook

In response to a number of issues that had come to light in recent months with the administration and reimbursement process for the new Personal Property Tax system, MML worked closely with Treasury to develop many of the amendments that were included in House Bill 5086 recently signed by Governor Snyder as Public Act 247 of 2018.

Key changes within this bill eliminate the confusing annual loss recalculation process, provide for an error correction process and associated reimbursements, updates the millage rate base year, and provides for a dedicated (and increased) stream of revenue for those municipalities receiving fire protection grant dollars for hosting state facilities, among other changes.

Following the Governor’s signature of this legislation, Treasury distributed the following communication as they work to implement the changes in advance of the reimbursements scheduled for later this fall…

On June 27, 2018, Governor Snyder signed into law Public Acts 247 and 248 of 2018. These Acts make significant changes to the Local Community Stabilization Authority Act (LCSA Act) and the calculation of personal property tax (PPT) reimbursements. The attached document (pdf linked below) provides further detail regarding the amendments to the LCSA Act.

The Michigan Department of Treasury is working to update the content on the Personal Property Tax Reimbursements website to reflect the amendments to the LCSA Act.

Please direct any questions regarding the amendments and the changes to the PPT reimbursement calculation process to [email protected] or 517-373‐2697. Additional information is also available on our website at www.michigan.gov/pptreimbursement.

 

Chris Hackbarth is the League’s director of state & federal affairs. He can be reached at 517-908-0304 and [email protected]

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