Michigan § 12.286 - Tax exemption.
Full text of Michigan Michigan Compiled Laws § 12.286 — Tax exemption., with citation guidance and answers to common questions.
§ 12.286. Tax exemption.
(1) The property of the authority and its income and operations under this act are exempt from taxation by this state and any political subdivision of this state.
(2) If the authority intends the interest on bonds it issues to be exempt from federal income tax, the authority shall prescribe restrictions on the use of the proceeds of those bonds and related matters as necessary to assure the exemption. The recipients of proceeds of those bonds are bound to the extent the restrictions are made to apply to them. The authority and the director may severally execute agreements as to bonds the authority issues, including without limitation intergovernmental agreements or other agreements providing for collecting and remitting funds.
Frequently Asked Questions About Michigan § 12.286
What does Michigan Compiled Laws § 12.286 cover?
Section 12.286 ("Tax exemption.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 12.286?
A common citation format is "Michigan Compiled Laws § 12.286" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 12.286 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.