1. It is recommended that all new equipment and machinery be included in the IFT application so that the equipment and machinery meet the timeline requirements of P.A. 198 of 1974. The same equipment can then also be submitted for an Air or Water Pollution Control Exemption. The final amount approved for Air or Water Pollution Control Exemption will be determined by the Department of Environmental Quality. If not all of the property qualifies to be exempt as Air or Water Pollution Control equipment, the remainder may then qualify for the IFT exemption.

    
   This document was approved by the State Tax Commission on April 17, 2001.
    
    

Act = Act 198 of 1974

AV = Assessed Value

IDD = Industrial Development District

IFEC = Industrial Facilities Exemption Certificate

IFT = Industrial Facilities Tax

MCL = Michigan Compiled Law

PA = Public Act

PRD = Plant Rehabilitation District

PTD = Property Tax Division

SEV = State Equalized Value

STC = State Tax Commission

TV = Taxable Value