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Posted: Tuesday, 31 December 2013 11:40AM

Senate Approves Proos Nonprofit Economic Development Bill



The Michigan Senate is approving a nonprofit economic development bill sponsored by John Proos. The legislation would allow local municipalities to grant tax abatements for a period of five-years to nonprofits that intend to hold properties for the development of business.

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After the standard five-year period, the nonprofit could then apply for a two-year extension. Proos says this is a tool for local officials to use in supporting nonprofits which can then develop and attract new businesses and jobs to communities.


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