Introduced
by
To authorize the Michigan Economic Development Corporation to designate an additional five certified technology parks, and to count ones located in the same county as one park. Certified technology parks are industrial parks in which infrastructure improvements that benefit the occupants are funded by tax increment financing, in which a portion of their future property taxes are reserved to pay for the improvements, rather than going to local governments.
Referred to the Committee on Commerce
Amendment offered
by
To narrow a provision to count certified technology parks located in the same county as one park to apply only to counties with a population greater than 750,000 (Wayne, Macomb, Oakland).
The amendment passed by voice vote
Passed in the House 103 to 2 (details)
To authorize the Michigan Economic Development Corporation to designate an additional five certified technology parks, and for Wayne, Oakland and Macomb counties only, to count ones located in the same county as one park. Certified technology parks are industrial parks in which infrastructure improvements that benefit the occupants are funded by tax increment financing, in which a portion of their future property taxes are reserved to pay for the improvements, rather than going to local governments.
Amendment offered
by
To require the state to reimburse local school districts for the value of any school tax exemptions granted to taxpayers in a new certified technology park. The money would come from the state general fund, which is funded by other state tax revenues.
The amendment passed by voice vote
Passed in the Senate 25 to 6 (details)
To authorize the Michigan Economic Development Corporation to designate an additional five certified technology parks, and for Wayne, Oakland and Macomb counties only, to count ones located in the same county as one park. Certified technology parks are industrial parks in which infrastructure improvements that benefit the occupants are funded by tax increment financing, in which a portion of their future property taxes are reserved to pay for the improvements, rather than going to local governments. The state would be required to reimburse local school districts for the value of any school tax exemptions granted to taxpayers in a new certified technology park. This money would come from the state general fund, which is funded by other state tax revenues.
Amendment offered
by
To require the Michigan Economic Development Corporation to report to the legislature on the revenue reductions realized by local governments due to the bill.
The amendment passed by voice vote
Passed in the House 100 to 2 (details)
Amendment offered
by
To require the state to reimburse from the state general fund (funded by other state tax revenues), to the state school aid fund and to a local school district, the amount of any school taxes not paid due to certain tax exemptions granted to a firm located in the proposed an alternative energy renaissance zone.
The amendment passed by voice vote
Passed in the Senate 32 to 0 (details)
To concur with the House-passed version of the bill, with an amendment.
Passed in the House 105 to 1 (details)
To concur with the Senate-passed version of the bill.
