Bill Text: MI HB5059 | 2019-2020 | 100th Legislature | Enrolled

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Economic development: brownfield redevelopment authority; capture of certain school operating mills by brownfield redevelopment authorities; reimburse. Amends 1996 PA 381 (MCL 125.2651 - 125.2670) by adding sec. 15b.

Spectrum: Bipartisan Bill

Status: (Passed) 2020-12-31 - Assigned Pa 279'20 [HB5059 Detail]

Download: Michigan-2019-HB5059-Enrolled.html

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state of michigan

100th Legislature

Regular session of 2020

Introduced by Reps. Slagh, Hertel, Sabo, Brann, Hood and Calley

ENROLLED HOUSE BILL No. 5059

AN ACT to amend 1996 PA 381, entitled “An act to authorize municipalities to create a brownfield redevelopment authority to facilitate the implementation of brownfield plans; to create brownfield redevelopment zones; to promote the revitalization, redevelopment, and reuse of certain property, including, but not limited to, tax reverted, blighted, or functionally obsolete property; to prescribe the powers and duties of brownfield redevelopment authorities; to permit the issuance of bonds and other evidences of indebtedness by an authority; to authorize the acquisition and disposal of certain property; to authorize certain funds; to prescribe certain powers and duties of certain state officers and agencies; and to authorize and permit the use of certain tax increment financing,” (MCL 125.2651 to 125.2670) by adding section 15b.

The People of the State of Michigan enact:

Sec. 15b. (1) Beginning January 1, 2021, and each year thereafter, from the state school aid fund this state shall reimburse each intermediate school district for any tax increment revenues captured by an authority under this act for property taxes levied for operating purposes under section 625a, sections 681 to 690, or sections 1722 to 1729 of the revised school code, 1976 PA 451, MCL 380.625a, 380.681 to 380.690, and 380.1722 to 380.1729.

(2) The amounts reimbursed under subsection (1) shall be used by the intermediate school district only for the purposes for which the property taxes were originally levied.

(3) The Michigan strategic fund and the Michigan economic development corporation shall work with the department of treasury in identifying the amount of tax revenues captured by an authority that are to be reimbursed under subsection (1).

 

 

Clerk of the House of Representatives

 

Secretary of the Senate

Approved___________________________________________

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Governor