Bill Text: MI HB4226 | 2015-2016 | 98th Legislature | Engrossed
Bill Title: Economic development; economic development corporations; certified technology park distinct geographic areas; increase. Amends sec. 12b of 1986 PA 281 (MCL 125.2162b).
Spectrum: Bipartisan Bill
Status: (Passed) 2015-07-21 - Assigned Pa 125'15 With Immediate Effect [HB4226 Detail]
Download: Michigan-2015-HB4226-Engrossed.html
HB-4226, As Passed House, June 3, 2015
SUBSTITUTE FOR
HOUSE BILL NO. 4226
A bill to amend 1986 PA 281, entitled
"The local development financing act,"
by amending section 12b (MCL 125.2162b), as added by 2008 PA 104.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 12b. (1) A municipality that has created an authority in
which a certified technology park has been designated under this
act may enter into an agreement with another authority that does
not contain a certified technology park to designate a distinct
geographic area within the authority district as a certified
technology park. The authority shall consider the advantages of the
unique characteristics and specialties offered by the public and
private resources available in the distinct geographic area, shall
consider the benefits to regional cooperation and collaboration,
and shall consider whether designating the additional distinct
geographic area adds value to the mission of the designated
certified technology park. The distinct geographic area is subject
to the provisions of section 12a(3), (4), and (5). The state
treasurer shall not approve the capture of amounts levied by the
state under the state education tax act, 1993 PA 331, MCL 211.901
to 211.906, and by local and intermediate school districts as
permitted
in section 2(ee)(ii)(B) 2(jj)(ii)(B) for
more than 3 9
distinct geographic areas designated under this section. In
addition, beginning on the effective date of the amendatory act
that added subsection (2), the state treasurer shall not approve
the capture of amounts described in this subsection unless the
application for approval of a distinct geographic area under this
subsection is also approved by the Michigan economic development
corporation as provided in subsection (2). A copy of the
designation shall be filed with the Michigan economic development
corporation.
(2) Beginning on the effective date of the amendatory act that
added this subsection, the Michigan economic development
corporation shall designate the distinct geographic areas under
subsection (1) pursuant to a competitive application process that
has an initial application period and a final application period
and that meets all the following:
(a) The initial application period shall begin on the
effective date of the amendatory act that added this subsection and
end on October 1, 2015. All applications submitted during the
initial application period shall be approved or denied not later
than November 1, 2015. The Michigan economic development
corporation may approve up to 3 applications as a result of the
initial application period. Applications submitted outside the
initial application period shall not be considered under this
subdivision.
(b) The final application period shall begin on January 1,
2016 and end on July 1, 2016. All applications submitted during the
final application period shall be approved or denied by September
1, 2016. The Michigan economic development corporation may approve
the remaining designations available under subsection (1) as a
result of the final application period. However, there is no
requirement that all 9 designations be made under this section.
Applications submitted outside the final application period shall
not be considered under this subdivision.
(c) The Michigan economic development corporation shall
publish the application process and competitive criteria upon which
applications will be evaluated on its website. If an application
does not meet the requirements of this section, the application
shall not be approved by the Michigan economic development
corporation.
