Courtesy: Michigan Senate
A piece of legislation dealing with eliminating the Personal Property Tax (PPT) was signed into law Friday.
Senate Bill 822, which represents one of the final legislative actions necessary to effectively repeal the PPT, will help fund vital assistance to local governments. The elimination of the PPT has been a priority of this session as it is a tax that is considered dated and a barrier to new investment by municipal leaders and the business community alike.
“I want to thank Lieutenant Governor Calley and his staff, as well as all those who worked so hard crafting this bi-partisan legislation,” Senator Mike Nofs (R-Battle Creek) said. “This marks the conclusion of nearly four years of work and represents an important step in making Michigan more competitive for job providers.”