Introduced
by
To extend to the end of 2007 the sunset on the authority of the Michigan Economic Development Corporation (MEDC) to provide brownfield redevelopment single business tax credits, and revise the MEDC’s authority over brownfield tax increment financing plans. See also House Bill 6501.
Referred to the Committee on Tax Policy
Amendment offered
To allow developer to resubmit a brownfield-related tax increment financing program work plan if the first one is denied by the Michigan Economic Growth Authority.
The amendment passed by voice vote
Passed in the House 104 to 0 (details)
Referred to the Committee on Economic Development, International Trade, and Regulatory Affairs
Substitute offered
To replace the previous version of the bill with one which extends the Michigan Economic Growth Authority's authority to approve brownfield work plans which include the capture school operating taxes beyond an existing January 1, 2003 sunset to January 1, 2008. Note: A vote on this substitute also had the effect of killing an alternative substitute which would have given school districts a voice in approving brownfield projects (which reduce local tax revenues). Some Senators contended that this would have give schools a "veto" on new brownfield projects.
The substitute passed by voice vote
Passed in the Senate 32 to 0 (details)
To extend to the end of 2007 the sunset on the authority of the Michigan Economic Development Corporation (MEDC) to provide brownfield redevelopment single business tax credits, and revise the MEDC’s authority over brownfield tax increment financing plans. The bill also extends the Michigan Economic Growth Authority's authority to approve brownfield work plans which include the capture school operating taxes beyond an existing January 1, 2003 sunset, to January 1, 2008. See also House Bill 6501.
Passed in the House 95 to 0 (details)
To concur with the Senate-passed version of the bill.
