Property tax: exemptions; HOPE zone exemption; provide for. Amends sec. 7ff of 1893 PA 206 (MCL 211.7ff). TIE BAR WITH: HB 5852'26

HB 5856 amends Michigan's property tax laws to establish tax exemptions for properties located in designated Renaissance and HOPE zones, aiming to encourage economic development in those areas. The bill allows real and personal property in these zones to be exempt from general property taxes, though it explicitly excludes special assessments, debt-related taxes, school taxes, and properties associated with casinos from these exemptions. Additionally, the legislation includes specific requirements for residential rental properties to be in compliance with local building and zoning codes to qualify for the tax break, while also creating a new exemption category for eligible data center properties in Renaissance zones approved in 2016.