- Michigan Awarded Nearly $23 Million for Electric Vehicle Infrastructure
The State of Michigan recently announced that nearly $23 million has been awarded to multiple locations across Michigan for electric vehicle infrastructure. The funds are being allocated via the U.S. Department of Energy’s National Electric Vehicle Infrastructure Formula Program.
Why it Matters: Electric vehicle growth and EV infrastructure is an important clean energy and economic growth priority in Michigan. However, recent reports suggest the market for EVs is slowing, and the issue has become a hot-button topic in this year’s presidential campaign. A New York Times article discussed the contentiousness of the issue in a story this week titled, “For Michigan’s Economy, Electric Vehicles are Promising and Scary.”
- Increase in the Small Business Property Tax Exemption
Eligibility for the so-called “Small Business Property Tax Exemption” has expanded. Legislation passed last October 2023, expands the exemption by increasing the eligibility limit to from the $80,000 true cash value limit to $180,000.
Why it Matters: The exemption is only for commercial and industrial personal property (residential/individuals are not subject to personal property taxes). Once filed, and if granted, the exemption will remain as long as the small business still qualifies. In other words, there is no need to file an exemption claim every year. Read more.
- Michigan CRA Publishes January 2024 Data: Average Price Decreases
Per data released by the Cannabis Regulatory Agency (CRA), the average retail price for adult-use sales of an ounce of cannabis in January was $93.20, a decrease from $95.08 in December 2023. This is an increase from January 2023, where the average price was $80.16.
Why it Matters: While the prices of cannabis and cannabis-related products continue to decrease and make consumers happy, growers on the other hand are seeing profits decrease resulting in them seeking ways to halt new licenses to be granted in an effort to steady prices. Contact our cannabis law attorneys if you have any questions.
- Michigan’s Repealed “Right-to-Work” Law Takes Effect
On Tuesday, February 13, 2024, Michigan’s repeal of the prior “right-to-work” law governing private-sector workers went into effect.
Why it Matters: The result of the repeal is that private-sector unions may permissibly negotiate to impasse, and enforce, “union security” provisions requiring membership in, or financial support through “Beck Objector” fees, of those unions. Read more.
- Retroactive PPT Exemption
Some Michigan manufacturers who were not able to claim their 2021 ESA-PPT exemption due to COVID-19, have until March 14 to request approval from the State Tax Commission.
Why it Matters: The ESA is a State specific tax on personal property that is exempt from property taxes at the local level because the property meets certain eligibility requirements, such as being qualified manufacturing or industrial personal property. In order to elect out of local personal property taxes and into the ESA regime, manufacturers must file the required forms with their local assessing office by February 20th of each year. Learn more.
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