HB 4446, sponsored by Rep. O'Brien (R - Portage) and SB 349 sponsored by Sen. Hildenbrand (R - Lowell) deal with prorating the Principal Residence Exemption (PRE) for taxpayers. Currently there is only one date - May 1st - which is the cutoff for getting the PRE. The League has always opposed this concept from a practical standpoint since daily proration would be very problematic administratively. However, we do support trying to come to some agreement to at least add a second date for getting the principal residence classification. Currently, the Governor's administration is leading a workgroup to try and come up with a compromise, of which the League is a part. We expect this to be an issue th legislature tries to resolve when they get back after the Thanksgiving break. We will keep you posted on progress of the workgroups.
Summer Minnick is the Director of State Affairs for the League. She can be reached at 517-908-0301 or sminnick@mml.org.
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