Local government: financing; HOPE zone exemption; provide for. Amends sec. 5 of 1990 PA 100 (MCL 141.1155). TIE BAR WITH: HB 5852'26

HB 5855 amends Michigan's City Utility Users Tax Act to create exemptions for specific businesses and locations. The bill allows qualified start-up businesses to be exempt from utility taxes for up to five years if they first receive a tax credit and receive approval from their city council. Additionally, it extends tax exemptions to businesses operating within designated Renaissance zones and HOPE zones, while explicitly excluding casinos from these benefits. To claim the start-up exemption, businesses must file an affidavit by September 1 and provide proof of their prior tax credit eligibility.